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.
Trending On Reuters
Increased outsourcing of digital technology services by western companies helped Tata Consultancy Services Ltd, India's largest software services exporter, post a 14.5 percent rise in quarterly net profit, meeting market expectations. Full Article