Hindustan Unilever Q3 net profit up 22 pct, beats forecasts
MUMBAI Jan 27 (Reuters) - Hindustan Unilever Ltd's said on Monday its third-quarter net profit rose 22 percent year-on-year, beating analysts' forecasts, even as its sales lagged estimates.
The Indian unit of Anglo-Dutch Unilever Plc said in a statement on Monday it had made a net profit of 10.6 billion Indian rupees ($169.63 million) in the quarter ending Dec. 31 compared to a profit of 8.7 billion rupees in the same period a year ago.
Sales at India's largest manufacturer of household products and consumer goods rose 9.5 percent year-on-year to 70.4 billion rupees, slightly lower than estimates.
Analysts had expected a net profit of 9.3 billion rupees and net sales of 71.3 billion rupees for the quarter, according to Thomson Reuters Starmine Estimates.
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Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts. Article