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India’s Unilever Q2 net profit beats f’cast
Posted by Yogesh on Friday, 25 July, 2008
MUMBAI, July 25 – India’s biggest consumer goods maker, Hindustan Unilever Ltd , on Friday posted a better-than-expected 13 percent rise in quarterly profit, as strong sales of personal care products offset high input prices.
Growing incomes and an expanding modern retail industry are helping boost demand for everything from shampoo to tea in India.
But Unilever, which makes Lux soap, Surf detergent and Lipton tea, is battling rising costs of raw materials, while record-high inflation is crimping consumer spending and encouraging downgrades to cheaper brands.
It also faces greater competition from international and local rivals, including top cigarette maker ITC Ltd .
The unit of Anglo-Dutch Unilever Plc said net profit in its second quarter ended June rose to 5.58 billion rupees from 4.93 billion rupees a year earlier.
The year-ago quarter figure includes a one-off gain of 211.7 million rupees.
Net sales rose to 42.16 billion rupees from 34.81 billion.
Source Reuters
