The Indian subsidiary of the second largest consumer goods company in the world, Hindustan Unilever Ltd, reported profits for the second quarter. It surpassed analysts' estimates as the sales revenues from soap and skin care creams increased in the same period.
Net income rose 13% to INR9.1 billion or USD148 million in the three months ending September from just INR8.1 billion from the previous year. These figures were shared by the Mumbai based company through a statement released today. Profits had exceeded the INR8.6 billion median indicated by 34 analysts' estimates collated by Bloomberg News.
Hindustan Unilever declined by 2.6% to INR593.95 in trading at the Mumbai bourse yesterday. Overall, the stock value had increased by 13% this year, compared with a 16% increase in the 11 company S&P BSE FMCG Index of the nation's largest consumer goods firms.
Sales volume grew by 5% for the quarter compared to 7% in the same period in 2012. These figures though reflect sales growth which exclude price changes.
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