Hindustan Unilever’s third quarter net profit up 18 percent

February 6th, 2012 - 4:46 pm ICT by IANS  

Mumbai, Feb 6 (IANS) Fast moving consumer goods (FMCG) major Hindustan Unilever Monday reported an 18.24 percent increase in its net profit for the quarter ended Dec 31 at Rs.753.81 crore from Rs.637.51 crore in the like period of 2010-11.

“We have delivered another strong quarter of competitive growth with improvement in margins. The results, delivered against a backdrop of an uncertain economic environment, are reflective of the strength of our brands, consistency in our strategy and relentless focus on execution,” said Harish Manwani, chairman, Hindustan Unilever.

The company said in a regulatory filling that its total income in the quarter under review grew by 15.79 percent at Rs.5,937.63 crore from Rs.5,127.71 crore in the corresponding period of last year.

Net sales in the period increased by 16.42 percent at Rs.5,852.73 crore from Rs.5,027.01 crore in the quarter ended Dec 31, 2010.

The company said that domestic consumer business grew at 16.5 percent with all segments delivering double-digit growth in the quarter ended Dec 31.

It said that inflationary pressures during the quarter were primarily on account of currency depreciation and that cost pressures were managed through saving programmes coupled with pricing strategy.

The company reported a rise of 19.17 percent in its consolidated net profit for the fiscal at Rs.2,069.89 crore from Rs.1,736.83 crore in the like period of previous fiscal.

The total consolidated income for the fiscal grew by 15.97 percent at Rs.17,121.47 crore from Rs.14,768.59 crore in the like period of 2010-11.

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