FMCG major Hindustan Unilever (HUL) today reported 23.43 per cent decline in net profit at Rs 1,019.25 crore for the first quarter ended June 30, 2013.
The company had posted net profit of Rs 1,331.19 crore in the corresponding quarter a year ago. HUL's net sales went up by 6.99 per cent to Rs 6,687.49
crore in the quarter under review as against Rs 6,250.15 crore in the corresponding quarter last year, the company said in a BSE filing.
Shares of the company were trading to Rs 660.20 apiece on the BSE in the afternoon trade, down 3.83 per cent from their previous close.
Hindustan Unilever Q1 profit up 20 pct, shares fall
(Reuters) Hindustan Unilever Ltd, the Indian unit of Anglo-Dutch Unilever Plc , beat market forecasts with a 20 percent increase in quarterly net profit, but its shares fell over 5 percent as sales volumes disappointed investors.
India's largest manufacturer of household products and consumer goods posted on Friday a net profit of 10.19 billion rupees ($172.36 million) for the quarter ended March 30, from an adjusted profit of 8.54 billion rupees a year ago. The adjusted profit is a median of estimates from 3 brokerages.
The company had reported an actual net profit of 13.3 billion rupees in the same period a year ago on the back of a one-time gain.
Analysts had expected a net profit of 8.7 billion rupees, according to Thomson Reuters Starmine Estimates.