RPT-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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Some of India's biggest companies are pouring billions of dollars into manufacturing guns, ships and tanks for the country's military, buoyed by the new government's commitment to upgrade its armed forces using domestic factories. Full Article