Indian food and consumer goods company Hindustan Lever has posted a 12.5% rise in quarterly profit on a like-for-like basis, beating analysts’ forecasts.
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The company, which is 51% owned by Anglo-Dutch consumer goods giant Unilever, reported net profit of Rs4.51bn (US$97.6m), for the second quarter to 30 June, compared to Rs4.01bn before extraordinary items a year earlier.
Net sales rose 3% to Rs27.93bn. Analysts had been expecting, on average, net profit of Rs4.27bn, on net sales of Rs27.51bn.
Like Unilever, Hindustan Lever has embarked on a strategy of focusing on its “power” brands, and said it is confident the strategy will “continue to deliver sustained growth”.
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By GlobalData
