HUL Q3 net rises 22% to Rs 1,062 cr

HUL Q3 net rises 22% to  Rs 1,062 cr

 FMCG company Hindustan Unilever (HUL) on Monday reported a net profit of Rs 1062.31 crore for the quarter ended December 31, 2013, 22 per cent higher over the comparable quarter of previous financial year of Rs 871.36 crore.

During the quarter, HUL's total income grew to Rs 7,366.01 crore from Rs 6,788.54 crore during the quarter ended December 31, 2012.

Sales at India's largest manufacturer of household products and consumer goods rose 9.5 per cent year-on-year to Rs 7,038 crore, slightly lower than estimates and this slowdown could be ascribed to the decline in rural demand -- which normally accounts for nearly half of the company's sales, the company said.

HUL Chief Financial Officer R.Sridhar said, “Market growth continued to be slow and in the near term, we can expect to see a few more quarters of slow growth."  He pointed out that overall sales volumes in the December quarter grew 4 per cent, in line with market estimates of 4-5 per cent growth but lower than the 5 percent growth a year ago.
A sharp depreciation in the rupee between May and August last year impacted Q3  earnings,  Sridhar said.

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