Hindustan Unilever, India's largest consumer goods company , on Wednesday reported a 2.6 per cent fall in second-quarter profit, missing analysts' expectations, as it cut prices.
The Indian unit of the Anglo-Dutch consumer group Unilever Plc posted a net profit of Rs 9.62 billion ($147.9 million), down from Rs 9.88 billion a year earlier. Net sales rose 5 per cent to Rs 78.20 billion.
Analysts on average were expecting a profit of Rs 10.43 billion, according to Thomson Reuters data.
($1 = Rs 65.0400)