HLL net rises 12.6%

Hindustan Lever Ltd, the Indian subsidiary of Unilever Plc of the UK, has posted a 12.6 per cent rise in net profit at Rs 450.93 crore for the second quarter ended June 2003 as against Rs 447.34 crore in the same period of last year. The board of the largest FMCG company in India has recommended an interim dividend of Rs 2.50 per share of Re 1 each for the current financial year ending December 2003, HLL chairman M.S. Banga said in a news conference held here on Thursday after HLL’s board took the financial results for the second quarter on records. ‘‘After a period of restructuring, the company has regained growth momentum led by its power brands”, he said.

The total income for the reporting quarter grew to Rs 2,792.82 crore as against Rs 2,696.1 crore in April-June 2002, he said. Exports rose sharply to Rs 321 crore during April-June quarter compared to Rs 305 crore for the same period last year. The net profit for the first six months of HLL ended June 2003 rose by 10.54 per cent at Rs 833.85 crore as compared to Rs 754.29 crore for January-June, 2002 period, finance director D. Sundaram said. Net sales for the period under review was also up at Rs 5,060.92 crore as against Rs 4,952.89 crore for six months ended June 2002.