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Hindustan Unilever Q3 profit up 16 pct, shares fall 5 pct

Source : REUTERS
Last Updated: Tue, Jan 22, 2013 10:08 hrs
Workers arrange consumable goods at a grocery store in Lucknow

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.

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