Hindustan Unilever posts bigger quarterly profit to Rs 1018 cr as demand grows

Hindustan Unilever, the Indian unit of Anglo-Dutch consumer group Unilever, reported a better-than-expected quarterly profit as shoppers bought more of its soaps, shampoos and other domestic products.

The company said on Friday its standalone net profit for the quarter ended March 31 was Rs 1018 crore ($159.14 million), compared with Rs 872 crore a year earlier.

Analysts on average were expecting a profit of  Rs 967 crore, according to Thomson Reuters data.

Hindustan Unilever sells Lux soap, Lipton tea and Dove through thousands of mom-and-pop shops as well as big retailers across the country. Sales at the company are widely seen as an indicator of consumer demand in the country.

Reuters