Hindustan Unilver has posted disappointing June quarter results with muted volume growth. Its net profit was at Rs 1174 crore (up 9.8 percent) in the quarter ended June 2016. Its income stood at Rs 8128 crore up 3 percent in Q1 on annual basis, way below CNBC-TV18 poll. During the period, its volume growth was below estimates at 4 percent year-on-year. Profit was expected to increase 10 percent year-on-year to Rs 1,156 crore on margin expansion, according to average of estimates of analysts polled by CNBC-TV18. Revenue was seen rising 5.6 percent to Rs 8,557 crore in the quarter ended June 2016 from Rs 8,105 crore in year-ago period with volume growth around 4.5-5.5 percent. Harish Manwani, Chairman says, "In slow market conditions, the business is tracking ahead of the market sustained margin improvement. We continue to make progress on our priorities of strengthening the core of our business whilst driving operational efficiencies. While the near term growth is likely to remain muted, we are optimistic for the medium term & remain focussed on driving competitive & profitable growth."
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