Hindustan Lever, India's top company by market value, reported net profit increase by 62.7 per cent in April-June from a year earlier, far surpassing expectations. Net profit rose to Rs 467 crores from Rs 287 crores in the same period a year earlier. Net sales increased by 1.79 per cent - to Rs 2,930 crores from Rs 2880 crores.
Analysts had forecast profit would rise 19.9 per cent to Rs 340 crores, on sales seen edging up 1.99 per cent to Rs 2,937 crores, according to the medians in a Reuters poll of 12 brokerages.
Lever is 51 per cent owned by Anglo-Dutch multinational Unilever, and contributed around 10 per cent to Unilever's profits in 2000.