India. Unilever reported a 16.42% increase in net profit during the September quarter. The company said transition to the goods and services tax had an impact on trade purchases in the early part of the quarter, but consumer sales remained stable.

HUL Q2 profit rises 16% on consumer demand, lower costs Soumya Gupta 25 October 2017 Mint Mumbai, Oct. 25 -- Hindustan Unilever Ltd (HUL), India's largest packaged consumer goods maker, on Wednesday reported a 16.42% increase in net profit during the September quarter, beating estimates, helped by domestic demand and lower costs. Profit rose to Rs1,276 crore in the September quarter, compared with Rs. 1,096 crore a year earlier. Analysts polled by Thomson Reuters had estimated a profit of Rs.1,185 crore on average. Net sales fell to Rs.8,199 crore from 8,335 crore in the year ago period. HUL's expenses in the second quarter were down 5.95% to Rs 6,748 crore compared to Rs 7,175 crore a year ago. HUL said transition to the goods and services tax (GST) from 1 July had an impact on trade purchases in the early part of the quarter, but consumer sales remained stable. "In a challenging business environment, we delivered a particularly strong overall performance. This reflects the strength of our brands and our relentless focus on execution in the market place," HUL chairman Harish Manwani said Earnings before interest, tax, depreciation and amortisation (Ebitda), an indicator of operating profitability, increased 20% to Rs 1,682 crore. It posted an exceptional gain of Rs 46 crore on the sale of shares in Kimberly Clark Lever Pvt. Ltd. Published by HT Digital Content Services with permission from MINT.