HUL sales up 6 per cent in Q4; PAT up 4 per cent

Hindustan Unilever Limited's (HUL) net sales for the fourth quarter ended 31 March 2009 grew 6 per cent to Rs3988 crore, as against Rs3763 crore for the same period last year, the company said yesterday.

The company's net profit rose 4 per cent to Rs395 crore compared with Rs381 crore in the fourth quarter of 2008. However, profit before interest and exceptional item was up 20 per cent at Rs575 crore (Rs472 crore).

The exceptional items include incremental provision for retirement benefits of Rs60 crore arising out of change in actuarial assumption largely due to lower interest rates, restructuring costs of Rs26 crore, provision for remediation of a site of Rs25 crore and profit of Rs7 crore from sale of properties in Mumbai.

For the 12 months ended 31 March 2009, HUL's net sales grew 15.5 per cent to Rs16476.75 crore, while its profit from operations (before interest and exceptional items) stood at Rs2396.06 crore.

The company's net profit for the 12 months grew 10.6 per cent to Rs2115.50 crore.

''We have focused on sustaining growth in a challenging economic environment by significantly improving consumer value across our portfolio,'' Harish Manwani, chairman, HUL, said.