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HUL posts strongest profit in last 14 quarters

This article was posted on May 25, 2010 and is filed under Stock News

Hindustan Unilever (HUL) today reported the highest net profit growth in last fourteen quarters on the back of one time exceptional income in the March quarter.

Hindustan Unilever Limited (HUL) announced its results for March Quarter 2010 and financial year ending on 31st March 2010. In the quarter, Domestic Consumer and FMCG business grew 8%, driven by strong 11% volume growth. Growth was broad based across Home and Personal Care (HPC) and Foods and in aggregate, ahead of reported market growth.

The company reported highest net profit growth mainly due to Rs 143 crore exceptional income, which include sale of properties, sale of long term trade investments and reduction in provision for retirement benefits arising out of change in actuarial assumptions.

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