Shares of Hindustan Unilever jumped over 4 percent in early morning trade as it delivered a stable set of numbers, largely in-line with estimates with a mild beat on profitability. The FMCG company posted a 13 percent growth in net profit to Rs 914 crore in the quarter ended 30 September, 2013. Its net profit stood at Rs 806.92 crore in the corresponding quarter a year ago. During the period, net sales of the company grew to Rs 6747.2 crore in the quarter, from Rs 6,155.41 crore year-on-year. Volume growth for the quarter was 5 percent which is slightly higher than the 4 percent growth registered in first quarter. Meanwhile, sales of personal products jumped 12 percent, beverages grew 16 percent and packaged goods rose 9 percent. Last week, its parent company Unilever had said that due to slowdown, growth in emerging markets had fallen to about 6 percent in September quarter from 10 percent. At 09:46 hrs, the stock was quoting at Rs 606.00, up Rs 11.80, or 1.99 percent on the BSE.
News From: http://www.7StarNews.com
Monday, October 28, 2013
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