Home / Business / Money / HUL Q3 profit jumps 18% to Rs 1252 cr, volume growth at 3%

HUL Q3 profit jumps 18% to Rs 1252 cr, volume growth at 3%

The FMCG major also disappointed on volume growth front, which stood at 3 percent, much lower compared to forecast of 5-6 percent and 4 percent in Q3FY14.

The News International Team

Hindustan Unilever ‘s (HUL) third quarter net profit jumped 17.9 percent year-on-year to Rs 1,252 crore, mainly led by income from land sale.

The bottomline came in higher than expectations of Rs 1,091 crore while the topline missed forecast, which was estimated at Rs 7,963 crore, according to the average of estimates of analysts polled by CNBC-TV18.

Revenue grew by 7.6 percent to Rs 7,774 crore in the October-December quarter compared to Rs 7,223 crore in the year-ago period.

The FMCG major also disappointed on volume growth front, which stood at 3 percent, much lower compared to forecast of 5-6 percent and 4 percent in Q3FY14.

There was an exceptional gain of Rs 396 crore on sale of properties. “Net credit in Q3 include profit on sale of surplus properties Rs 407.29 crore and restructuring expenses Rs 10.71 crore,” the company said in its filing. Other income fell to Rs 120.07 crore from Rs 142.66 crore during the same period.

Operating profit rose 8.5 percent sequentially to Rs 1,332 crore and margin inched up 10 basis points to 17.1 percent in the quarter gone by.

Finance cost dropped to Rs 4.24 crore from Rs 18.20 crore but tax expenses more than doubled to Rs 518.66 crore in Q3FY15 from Rs 247.50 crore in Q3FY14.

Soaps earnings before interest & tax (EBIT) grew 11.4 percent year-on-year to Rs 502.4 crore with margin expansion of 69 basis points in the quarter ended December 2014. During the same period, personal care EBIT rose 3.3 percent to Rs 680.91 crore with margin falling 90 basis points to 27.7 percent.

At 15:07 hours IST, the stock was quoting at Rs 894.55, down Rs 47.90, or 5.08 percent after hitting a record high of Rs 948.50 in early trade.

More to come…

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