HUL Q2 net up 13.2 pc, declares dividend of Rs 3.50 per share

Mumbai, July 25 (UNI) India's largest consumer goods manfacturer, Hindustan Unilever Limited (HUL) has posted a 13.2 per cent rise for second quarter ended on June 30 and declared a dividend of Rs 3.50 per share.

The company said, its net profit grew at Rs 558 crore this quarter from Rs 493 crore in the corresponding quarter last year, despite high cost inflation, as it adopted a viable cost management strategy.

Its net sales grew by 21 per cent at Rs 4216 crore during the same period, while total income rose to Rs 4300 crore from Rs 3508 crore last year.

Commenting on the results, HUL Chairman Harish Manwani said, ''In the context of high cost inflation, the business has been managed dynamically using all available resources and enhanced mix and judicious pricing.'' The company has made strategic business partnership and collaborative efforts for bringing down the cost effects without affecting much prices as well as profitability, he added.

Hindustan Unilever shares fell 10 per cent in the quarter ended on June, compared to a 9 per cent decline for the sector index and a 14 per cent fall on the main share index.

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