Property sale lifts HUL Q1 net up to Rs 1,331 crore
Due to an exceptional income of Rs 607 crore from properties sale, Hindustan Unilever said its net profit soared over two-fold to Rs.1, 331.19 crore for the quarter ended June 30 this year.
The company has announced a net profit of Rs 627.16 crore for the same period previous fiscal.
Company’s net sales surged to Rs 6,250.15 crore for the quarter, from to Rs 5,495.91 crore during the same period of previous fiscal.
The environment continues to be challenging due of inflation and a general economic slowdown. However, the company managed the cost pressure dynamically through cautious pricing coupled with relentless focus on buying efficiencies and cost savings, HUL Chairman Harish Manwani said.
The company’s domestic consumer business grew by 19 per cent during the quarter over the same period previous fiscal with strong underlying volume growth of 9 per cent, it said.
Shares of HUL on Monday closed at Rs 442.85 on the BSE, down 0.67 per cent from its previous close.
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Source: Economics Times
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