HUL net up 22% to Rs 1,062 cr, beats estimates

Sales rise 9.5% to Rs 7,038 crore

Hindustan Unilever said on Monday its third-quarter net profit rose 22% year-on-year, beating analysts' forecasts, even as its sales lagged estimates.

The company reported net profit of Rs 1,062 crore in the third quarter compared to a profit of Rs 871 crore in the same period a year ago.

Sales at India's largest manufacturer of household products and consumer goods rose 9.5% year-on-year to Rs 7,038 crore, slightly lower than estimates.

Analysts had expected a net profit of Rs 930 crore and net sales of Rs 7,130 crore for the quarter, according to Thomson Reuters Starmine Estimates.

EBITDA came in at Rs 1,227 crore and the opertaing margin was at 17%.