Hindustan Unilever (HUL), the country's biggest fast moving consumer goods company, today reported a 2.49 per cent dip in quarterly net profit, missing analyst expectations.
HUL, a unit of Anglo-Dutch Unilever Plc said its net profit fell to Rs 615.74 crore in the fourth quarter ended December 31, 2008, from Rs 631.44 crore a year ago.
In comparison, Godrej Consumer Products (GCPL), which is the second-largest toilet soaps player, with a market share of 9.7 per cent, also showed a net profit drop of 7.3 per cent.
Led by value growth HUL's net sales rose 16.8 per cent to Rs 4,307.71 crore from Rs 3,687.4 crore a year ago. "The growth this quarter was led by value growth as the volume growth is 2 per cent," said D Sundaram, vice chairman and chief financial officer, Hindustan Unilever.
The Home and Personal Care (HPC) business, which includes brands like Lux, Lifebuoy, Dove, Pears, Fair & Lovely and even the laundry business grew 21 per cent.
Even the foods business, which includes icecreams, beverages and processed food brands of Knorr Soups, Kissan and Annapurna Atta showed a growth of 23 per cent.
However, the exports business recorded a 22 per cent loss at Rs 265 crore this quarter, as compared to Rs 345 crore for the corresponding period in the previous year.
The operating margins of the company showed a decline of 20 basis points below the December quarter 2007.
