MUMBAI Jan 27 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.
Trending On Reuters
State Bank of India, the nation's top lender by assets, posted better-than-expected quarterly bad debt levels on Friday and said it now expected an improvement, a long-awaited sign of easing pressure that helped its shares jump over five percent. Read | Full Coverage