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Hindustan Unilever net profit up 17%; stock dips
The company reported underlying volume growth of 7% in September 2012 quarter as compared to 9% in June 2012 quarter. Total operational income grew 12.5% at Rs 6,311 crore on y-o-y basis.
Shares of the company closed lower by 2.14% at Rs 551 on BSE. It touched an intra-day low of Rs 547.
Harish Manwani, Chairman commented: "In a volatile and uncertain environment, we continue to sustain our growth momentum while steadily improving our margins. Our consistent performance is being driven by a relentless focus on brand building, bigger and better innovations and disciplined execution in the marketplace."
The Board of Directors have declared an interim dividend of Rs 4.5 per equity share of face value Re. 1 each, for the year ending 31st March 2013.
In addition, an amount of Rs 8 per share has been declared as a Special Dividend to be paid out of the accumulated P&L balance and exceptional income generated in the first half of FY 2012-13, which will be funded from the current cash balance, the company said in the filing.
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