Hindustan Unilever posts bigger quarterly profit as demand grows

REUTERS - Hindustan Unilever Ltd , the Indian unit of Anglo-Dutch consumer group Unilever Plc , reported a better-than-expected quarterly profit as shoppers bought more of its soaps, shampoos and other domestic products.

The company said on Friday its standalone net profit for the quarter ended March 31 was 10.18 billion rupees ($159.14 million), compared with 8.72 billion rupees a year earlier.

Analysts on average were expecting a profit of 9.67 billion rupees, according to Thomson Reuters data.

Hindustan Unilever sells Lux soap, Lipton tea and Dove through thousands of mom-and-pop shops as well as big retailers across the country. Sales at the company are widely seen as an indicator of consumer demand in the country.

 

($1 = 63.9700 rupees)

(Reporting by Nivedita Bhattacharjee in Mumbai; Editing by Gopakumar Warrier)