Hindustan Unilever posts 17% rise in fourth-quarter profit at Rs 1018 crore

MUMBAI: Hindustan Unilever posted a fourth-quarter earnings performance that was above street expectations with profit rising 17% to Rs1018 crore.

Domestic sales, a proxy for consumer demand in the country, grew 8% to Rs 7675 crore, with volume growing at 6%.

The Indian unit of Anglo-Dutch Unilever said net profit was high after exceptional income from the sale of properties. Operating profit rose 22% to Rs 1318 crore. About 46 analysts polled by Bloomberg had expected Hindustan Unilever to post Rs 960 crore in profit with sales at Rs Rs7648 crore.

"Our strategy remains focused on strengthening the core of our business through innovation, leading market development and continuous improvement of our executional capabilities," said chairman Harish Manwani.

To be sure, HUL outperformed the broader FMCG market, by both volume and value sales.

Benign input costs helped a 310 bps reduction in Cost of Goods Sold while A&P was up 150 bps.