HUL net profit up 22 percent, beats forecasts

MUMBAI (Reuters) - Hindustan Unilever Ltd said on Monday its third-quarter net profit rose 22 percent year-on-year, beating analysts' forecasts, even as its sales lagged estimates.

The Indian unit of Anglo-Dutch Unilever Plc said in a statement on Monday it had made a net profit of 10.6 billion Indian rupees in the quarter ending December 31 compared to a profit of 8.7 billion rupees in the same period a year ago.

Sales at India's largest manufacturer of household products and consumer goods rose 9.5 percent year-on-year to 70.4 billion rupees, slightly lower than estimates.

Analysts had expected a net profit of 9.3 billion rupees and net sales of 71.3 billion rupees for the quarter, according to Thomson Reuters Starmine Estimates.

 

(Reporting by Nandita Bose; Editing by Miral Fahmy)