Hindustan Unilever net profit up 11%, beats forecast

Hindustan Unilever Ltd said on Monday its fourth-quarter net profit rose 11% year-on-year, beating analyst estimates even as its sales lagged estimates.

Hindustan Unilever Ltd said on Monday its fourth-quarter net profit rose 11% year-on-year, beating analyst estimates even as its sales lagged estimates.

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The Indian unit of Anglo-Dutch Unilever Plc made a net profit of Rs. 8.7 billion ($143.4 million) for the quarter ending March 31, compared with a profit of Rs. 7.87 billion in the same period a year earlier.

Sales at India's largest manufacturer of household products and consumer goods rose 8.9% to Rs. 69.4 billion, lower than estimates.

Analysts had expected a net profit of Rs. 8.5 billion and net sales of Rs. 70 billion for the quarter, according to Thomson Reuters Starmine Estimates. ($1 = Rs. 60.6550)