Hindustan Unilever posts 22 rise in its net profit

Hindustan Unilever, Indian arm of global FMCG giant Unilever, has posted 22% rise in its net profit to Rs 688.92 crore for the last quarter ended September compared to same quarter last year. The rise in net profit was much better than analysts- expectations and was mainly driven by strong sales growth and price hike in some of its popular products. At the same time its net sales rose by 18% to Rs 5522.16 crore in the last quarter compared to same quarter last year.

Like all the other FMCG companies, HUL has also faced margin pressure because of higher prices of raw materials. High inflation has driven the price of necessary raw materials much higher during the last couple of quarters. To offset the same, HUL has hiked the price of some of its popular product which helped it to post much better than expected result. Share price of HUL jumped by 7% to touch its all the high of Rs 377 per share during today-s trading following the quarterly result announcement.