HLL's Q1 net down 14 percent
By agencies | Friday, 29 April 2005, 07:00 Hrs
MUMBAI:Leading FMCG company Hindustan Lever Limited's first quarter net profit has fallen by 14.2 percent to 2.59 billion from Rs 3.02 billion in the corresponding quarter of 2004. HLL said its laundry segment grew by 13 percent in Q1. The company's exports also grew by 13 percent in the quarter under review. HLL's toothpaste segment has seen a 12 percent growth in Q1, its hair segment grew by 20 percent, while its other revenue grew by 10 percent between January and March this year. The company has made a one-time charge of Rs 84 million for exceptional items and is looking at various options to improve plantations. The company has seen accelerated growth in the rural sector. HLL's Lipton brand and processed food businesses has seen strong growth. The FMCG major said it expects high cost environment to stay for a few quarters. HLL's Q1 net sales are up 6.5 percent at Rs 25.06 billion from Rs 23.53 billion in the corresponding quarter last year. HLL's Q1 operating margins fell by 9.7 percent from 15.3 percent.