Hindustan Unilever profit rises 18 percent in fourth quarter
HUL reported a quarterly profit of 29.30 billion rupees as revenue rose 7 percent. The company will use price hikes and cost cuts to offset commodity volatility caused by Middle East tensions.
HINDUSTAN UNILEVER LTD grew quarterly profit 18% to 29.30 billion rupees ($307.57 million) despite rising commodity costs in India. Revenue rose 7% to 155.99 billion rupees for the quarter ended March 31, supported by a 9% gain in home-care sales. Investors are weighing margin pressures from Brent Crude Oil volatility against the consumer giant's ability to pass on costs.
Shares of the United Kingdom-based UNILEVER PLC subsidiary fell nearly 3% following the announcement. The decline made the stock one of the largest laggards on the KOTAK NIFTY 50 during the midday session.
