Hindustan Unilever (HUL), India’s largest FMCG company reported 17 per cent increase in its net profit for the January-March quarter boosted by exceptional gains.
HUL reported net profit of Rs 1,020 crore on sales of Rs 7,560 crore for the March quarter of FY2015.
Its net profit was boosted by an exceptional gain of Rs 179 crore. The exceptional items include Rs 7.07 crore on sale of surplus properties and Rs 169 crore profit on sale of subsidiary Broke Bond Real Estate Private Ltd.
Analysts polled by NDTV had estimated its net profit at Rs 960 crore on sales of Rs 7,648 crore.
HUL’s sales volume increased 6 per cent year-on-year in the March quarter at par with analysts’ estimate.
The FMCG major also witnessed increased profitability in the January-March quarter. Its operating margin increased 190 basis points to 17.1 per cent in the March quarter. Analysts polled by NDTV had estimated its operating margin at 15.78 per cent.
Reacting to its earnings shares of HUL jumped as much as 4.7 per cent to Rs 907 and closed 3.34 per cent higher at Rs 895.20 apiece compared to 1.67 per cent gain in the broader Nifty.