By Gurdev Singh Virk
MUMBAI--Hindustan Unilever Ltd. (500696.BY), India's largest
consumer-goods company by revenue, Monday exceeded market
expectations with a 15% increase in its fiscal-fourth-quarter net
profit, helped by higher product sales.
For the three months through March, Hindustan Unilever posted a
net profit of 7.87 billion rupees ($145.1 million), compared with
6.87 billion rupees a year earlier. The average of estimates in a
poll of 10 analysts was 7.50 billion rupees.
Sales rose 12.5% to 63.67 billion rupees from 56.60 billion
rupees, the company said in a filing with the Bombay Stock
Exchange.
The company, a unit of U.K.-based Unilever PLC (ULVR.LN), has a
wide distribution network that reaches thousands of supermarkets as
well as smaller shops across India. Its sales are widely seen as an
indicator of consumer demand in the country.
Hindustan Unilever's shares extended their gains after the
company announced the results. At 0848 GMT, they were 4.2% higher
at 484.60 rupees on the Bombay Stock Exchange, outperforming a 0.3%
gain in the benchmark Sensex index.
Write to Gurdev Singh Virk at Gurdev.Singh@dowjones.com
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