Hindustan Unilever Q2 Profits Rose to Rs 547 Crore

Author: Anurag Bhullar

On Friday, the leader of the consumer goods market in India, Hindustan Unilever Ltd (HUL) amazed the market and investors with forecast beating results for the second quarter ended on 30 September, 2008. Hindustan Unilever reported a net profit of Rs 546.61 crore from Rs 408.6 crore figure of the corresponding quarter last year; the net profit jumped 34 percent.

Total income of HUL rose 21 percent to Rs 4,110.91 crore for the July-September quarter. The income for the same period of 2007 was Rs 3395.17 crore, according to the information sent by the company to the Bombay Stock Exchange.

Earlier this month there had been forecasts that the net profit of the company would only rise to Rs 481 crore and the revenues were estimated to be 403.1 crore rupees. The company made a profit of Rs 1.31 billion on the sale of property. FMCG sales of HUL grew with a pace of 21.6 percent in this quarter and foods business of the company also grew by 17.5 percent.

Shares of Hindustan Unilever, having a market valuation of around $10.8 billion, gained 22 percent in the second quarter. However, shares on Friday, in the afternoon session traded at Rs 241, after dropping 0.95 percent.