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|Hindustan Unilever Q4 net profit rises 6% to Rs 1,183 cr|
| PTI |
New Delhi, Wednesday, May 17, 2017 | 16:28 IST
FMCG major Hindustan Unilever Ltd today reported 6.19 per cent increase in standalone net profit to Rs 1,183 crore for the fourth quarter ended March 31, 2017.
The company had posted a standalone net profit of Rs 1,114 crore in the same period previous fiscal, Hindustan Unilever Ltd (HUL) said in a BSE filing.
Total income during the quarter under review stood at Rs 8,969 crore as against Rs 8,430 crore in the year-ago period, up 6.39 per cent, it added.
Last month, Hindustan Unilever was mulling over to cut jobs as part of its parent Unilever's efforts to reduce costs globally.
The firm may show the door to 10-15 percent of its workforce, including layoffs and reduction in new hiring, senior executives in knowledge of the development told The Economic Times.
HUL employs 18,000 across factories and offices in the country, according to its 2015-16 annual report.
Unilever, the maker of Dove soap and Ben and Jerry's ice cream, said on Thursday it was accelerating its cost-savings plan, targeting a 20 percent underlying operating margin, before restructuring, by 2020.
Unilever would exit its shrinking spreads business, raise its dividend and review its dual-headed legal structure, eyeing near-term growth on its own, following its swift rejection in February of a takeover proposal by rival Kraft Heinz for 115 billion pounds.
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