Unilever showed a growth of 21 per cent in a quarter
CONSUMER goods giant Hindustan Unilever, the Indian unit of Anglo-Dutch Unilever, said on Tuesday (May 1) its quarterly profit jumped by 21 per cent, led by higher sales of personal care, soaps and detergent products.
The company said net profit for the three months to March rose to Rs6.87bn ($130m/£80.20m) from Rs5.69bn ($107.50m/£66.45m) in the same period a year earlier, outstripping market forecasts.
Hindustan Unilever (HUL), India’s biggest consumer goods firm by revenues, said sales in the fourth quarter rose 15.7 per cent to Rs56.6bn ($106.84m/£66.11m) despite a tougher retail climate in the face of a faltering economy.
The earnings by the company which sells such brands as Dove soap and shampoo Clinic Plus topped market expectations of a Rs6.5bn ($123.65m/£76.44m) profit.
The firm’s home and personal care business rose in the quarter by 23.6 per cent year-on-year, reflecting buoyant growth in sales of toiletries.
“We saw growth in volume and value terms, ahead of the market,” said Harish Manwani, chairman of HUL, which has seen steady growth across segments over the last eight to 10 quarters.
The firm’s chief executive Nitin Paranjpe added that soaps and detergents will continue to see double-digit growth.
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