Hindustan Unilever Q3 profit falls 22 per cent

Country's largest consumer goods firm, Hindustan Unilever Ltd, said on Friday its profit slumped 22 per cent, missing analysts' estimates, as weak demand in rural India continued to hurt sales.

The Indian unit of Anglo-Dutch consumer group Unilever reported October-December earnings of Rs 971 crore, well below the Rs 1,252 crore posted during the same period a year ago.

HUL, which is seen as a barometer of consumer sentiment, has been forced to cut prices on key products in recent months, as households have been squeezed because of a weak monsoon and rising food prices.