HLL gains on Q3 results
In an otherwise weak market, FMCG major Hindustan Lever gained 1.6% to Rs 232.55 after it reported a surge in net profit for Q3 September 2006
The scrip rose on high volume of 17.7 lakh shares.Sensex was down 77 points to 12,946.
After surging during mid-September to late September, the HLL stock had lost ground since late September 2006. From Rs 258.65 on 26 September, the scrip had declined to Rs 228.75 by 30 October. Earlier, it had surged to Rs 258.65 on 26 September from Rs 229.10 on 12 September.
Hindustan Lever today posted a 60% rise in net profit for Q3 September 2006 to Rs 521 crore (Rs 326 crore). The net profit included exceptional items such as gains from sale of stakes in some firms. Hindustan Lever has been divesting businesses to focus on its portfolio of big brands including Lux soap, Sunsilk shampoo, Surf detergent and Lipton tea. Net sales rose 12.2% to Rs 3066.01 crore (Rs 2731.54 crore).
Most FMCG companies have resorted to price hikes this year across product categories like shampoos, soaps and detergents on account of increasing input costs.Over the past two years, HLL's business has turned around, buoyed by stronger topline growth, improvement in margins and higher fiscal benefits.
The scrip rose on high volume of 17.7 lakh shares.Sensex was down 77 points to 12,946.
After surging during mid-September to late September, the HLL stock had lost ground since late September 2006. From Rs 258.65 on 26 September, the scrip had declined to Rs 228.75 by 30 October. Earlier, it had surged to Rs 258.65 on 26 September from Rs 229.10 on 12 September.
Hindustan Lever today posted a 60% rise in net profit for Q3 September 2006 to Rs 521 crore (Rs 326 crore). The net profit included exceptional items such as gains from sale of stakes in some firms. Hindustan Lever has been divesting businesses to focus on its portfolio of big brands including Lux soap, Sunsilk shampoo, Surf detergent and Lipton tea. Net sales rose 12.2% to Rs 3066.01 crore (Rs 2731.54 crore).
Most FMCG companies have resorted to price hikes this year across product categories like shampoos, soaps and detergents on account of increasing input costs.Over the past two years, HLL's business has turned around, buoyed by stronger topline growth, improvement in margins and higher fiscal benefits.
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