Hindustan Unilever Q3 profit up 16 pct, shares fall 5 pct
MUMBAI Jan 22 (Reuters) - Hindustan Unilever Ltd, the Indian unit of Anglo-Dutch firm Unilever Plc , posted a 16 percent jump in third-quarter net profit, but low volume growth and a rise in royalty payments knocked its shares down as much as 5 percent.
India's largest household and consumer goods maker posted net profit of 8.7 billion rupees ($161.7 million) for the quarter ended Dec. 31, up from 7.5 billion rupees a year earlier. Analysts had expected net profit of 8.8 billion rupees, according to Thomson Reuters Starmine Estimates.
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India's universal health plan that aims to offer guaranteed benefits to a sixth of the world's population will cost an estimated 1.6 trillion rupees ($26 billion) over the next four years, a senior health ministry official said. Full Article