Hind Unilever Q1 net more than doubles to Rs1,331 crore

Hindustan Unilever Ltd (HUL), the Indian subsidiary of Anglo-Dutch consumer products major Unilever Plc, has reported a 112 per cent increase in its fiscal first quarter (April-June 2012-13) net profit, at Rs1,331 crore.

Profit after tax but before exceptional items, PAT (before interest) grew 48 per cent to Rs855 crore during the quarter. Net profit at Rs1,331 crore grew 112 per cent after accounting for an exceptional income.

Profit before interest and tax (PBIT) grew 30 per cent year-on-year, HUL said in a filing with the stock exchanges.

HUL said its PBIT margin improved by 180 bps helped by Rs607 crore gains arising from the sale of properties.

During the quarter, HUL said, its domestic consumer business grew 19 per cent, with strong underlying volume growth of 9 per cent. Both home and personal care and foods recorded double digit growth, it said.

Sales of soaps and detergents grew 24 per cent, a broad-based growth, which was also well ahead of market, the company said.