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HUL second quarter profit up 17%

HUL second quarter profit up 17%
Hindustan Unilever Ltd (HUL) on Friday said its net profit rose by 17.12 per cent to Rs 806.92 crore for the second quarter ended 30 September 2012, over the same period previous fiscal.

The company had posted net profit of Rs 688.92 crore in the same period of 2011-12.

Hindustan Unilever said in a statement that its Q2 net sales rose to Rs 6,155.41 crore, as against Rs 5,516 crore during the same period of 2011-12.

The company's board declared an interim dividend of Rs 4.5 per equity share of face value Re 1 each, for the fiscal year ending 31 March 2013, it said.

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 and will be funded from the current cash balances, HUL added.

Commenting on the results HUL chairman Harish Manwani said: '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.' HUL was trading at Rs 552.90 on the BSE in the afternoon, down 1.93 per cent from its previous close.
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