MUMBAI Jan 22 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
State Bank of India (SBI) reported its sharpest quarterly profit drop in five years on Friday but cheered investors by saying that fewer than feared of its loans risked turning sour. Read