Hindustan Lever Q4 net up 56%
Hindustan Lever posted a 56% rise in quarterly profit as improved sales, higher product prices and a one-time income outweighed costlier raw materials.Updated: Feb 14, 2006 13:28 IST
India's biggest consumer goods maker, Hindustan Lever Ltd, on Tuesday posted a 56 per cent rise in quarterly profit as improved sales, higher product prices and a one-time income outweighed costlier raw materials.
The unit of Anglo-Dutch Unilever Plc, maker of Lux soap and Surf detergent, said net profit rose to Rs 5.21 billion ($118 million) in the fourth quarter to December, from Rs 3.34 billion reported a year earlier.
The net profit included a one-time income of Rs 823.6 million from sale of some tea plantations.
The result beat a median forecast for net profit of Rs 4.03 billion in a Reuters poll of 10 analysts.
Higher prices of fuel and key raw materials like soda ash have weighed on margins, while fierce competition has forced advertising costs higher and prevented bigger price increases.
Hindustan Lever's shares gained 9 per cent in the October-December quarter, mirroring the gain for the main share index and beating a 7 per cent rise on the sector index.
First Published: Feb 14, 2006 13:27 IST