Mumbai: FMCG major Hindustan Unilever on Tuesday
said higher tax expense and lower other income as compared to the year ago period pulled its net profit down by 2.7 per cent in the quarter ended June 30.
The company posted a net profit of Rs 543.19-crore in Q1 FY 10 as compared to Rs 558.19-crore in the same period last
HUL`s other income came down to Rs 33.54-crore in the period as against Rs 80.78-crore during the last year while
the tax expense increased to Rs 164.25-crore in the first quarter as against Rs 129.38-crore.
HUL`s total income has increased to Rs 4,502.63-crore in the first quarter of the fiscal as against Rs 4,236.73-crore
in the same period last year.
Its net sales grew by 7.8 per cent to Rs 4,475.68-crore in the quarter as against Rs 4,152.84-crore in the corresponding period last year.
"During the quarter, we adopted strategy to deliver competitive value and profitable growth," HUL Chief Financial
Officer, R Sridhar, said.
The company relaunched Lifebuoy and Liril in the quarter, he said.