Hindustan Unilever profit falls 15 percent on higher expenses and labour code charges
Hindustan Unilever profit fell 15 percent due to higher costs and labour code charges. The company is also buying a stake in Zywie Ventures to boost growth.
Insights:
Hindustan Unilever has announced a 15% decline in its third-quarter profit, which fell to 25.90 billion rupees for the three months ended December 31. The company, which is a subsidiary of the UK 
UK based Unilever PLC , attributed the decrease to a combination of higher operating expenses and a significant one-time charge. This charge, amounting to more than 1 billion rupees, is tied to the implementation of India 
IN's new labour codes.
UK based Unilever PLC , attributed the decrease to a combination of higher operating expenses and a significant one-time charge. This charge, amounting to more than 1 billion rupees, is tied to the implementation of India IN's new labour codes.
