HUL Q1 net flat at Rs 1,059 crore, misses estimates

Net sales up 5.4% at Rs 7,973 crore

Hindustan Unilever, the Indian unit of Anglo-Dutch consumer group Unilever Plc, reported a quarterly profit that missed market expectations as customers continued to be thrifty on purchases of soaps, shampoos and other personal care products.

Hindustan Unilever is Asia's largest consumer goods maker by market capitalisation and sells products such as Lux soap, Lipton tea and Dove shampoos through thousands of mom-and-pop stores as well as big retailers across the country, and is a barometer of Indian consumer sentiment.

Net sales from operations were Rs 7,973 crore ($1.25 billion) for the quarter ended June 30, up from Rs 7,571 crore last year.

The company said its net profit for the quarter was Rs 1,059 crore, compared with Rs 1,057 crore a year earlier.

Analysts on an average were expecting a profit of Rs 1,135 crore, according to Thomson Reuters data. 

($1 = 63.5600 rupee)