Hindustan Unilever Ltd (HUL) has reported a 21.6 per cent drop in net profit for the quarter ended September 2009 due to mark-to-market forex losses and restructuring costs.
Net profit fell to Rs 428.53 crore from Rs 546.61 crore during the same year-ago period, even as net sales recorded a five per cent rise to Rs 4,228 crore (Rs 4,027 crore). Operating profit grew 16.48 per cent to Rs 605.72 crore (Rs 520 crore), while operating margins improved by 140 basis points, with tight cost management and operating leverage. The domestic FMCG business grew seven per cent during the period under review, with one per cent coming from volume growth and the rest from higher prices.
The home and personal-care segment grew five per cent and the food business 13 per cent. Exports fell 34.72 per cent to Rs 255 crore (Rs 391 crore).
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