Hindustan Unilever net up 20%; stock down 5% on sales volume

Hindustan Unilever, the Indian unit of Anglo-Dutch Unilever Plc, beat market forecasts with a 20 per cent increase in quarterly net profit, but its shares fell over 5 per cent as sales volumes disappointed investors.

India's largest manufacturer of household products and consumer goods posted on Friday a net profit of Rs 1019 crore for the quarter ended March 30, from an adjusted profit of Rs 854 crore a year ago. The adjusted profit is a median of estimates from 3 brokerages.

The company had reported an actual net profit of Rs 1330 crore in the same period a year ago on the back of a one-time gain.

Analysts had expected a net profit of Rs 870 crore, according to Thomson Reuters Starmine Estimates.

Copyright: Thomson Reuters 2013