Consumer goods major Hindustan Unilever (HUL) has come out with a strong result for the quarter ended September 2010, despite intense competition and growing concerns of declining market share.
The company registered net profit of R566 crore compared to R420 crore, a jump of 34.8 per cent, on a year-on-year basis. Its profit after tax stood at R566.1 crore as against R428.5 crore for the quarter ending September 2010 and included R135 crore in restructuring expenses. Net sales grew 10.7 per cent during the quarter, driven by a strong underlying volume growth of 14 per cent in domestic consumer business.
The revenue saw a jump of nearly 12 per cent for quarter ended September 2010, at R4,764.7 crore as compared to R4,629.2 crore for the same period last year.
HUL’s domestic business saw volume growth of 14 per cent while the home and personal care business grew 9 per cent with a uniform growth across the portfolio. In the laundry and personal wash segment, Rin delivered double digit sales growth, driven by the relaunch in the previous quarter.