HUL profit declines by 1.8% in Q1
2010 July 28
Recording a 1.8 per cent drop in its profit to Rs 533.21 for the June quarter due to price wars with rivals and aggressive ad spends, FMCG major Hindustan Unilever on Tuesday said it may hike prices in the coming months. “We are looking at some price changes in the coming quarters. We are planning to increase the prices of a few products to maintain margins…pricing will be up,” HUL chief financial officer, Mr R. Sridhar, said on Tuesday. He, however, refused to specify the categories where prices would go up. Net profit fell by 1.8 per cent to Rs 533.21 crore in the June 2010 quarter from Rs 543 crore in the year-ago period.
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