Hindustan Unilever shares surged over four per cent in the morning trade today after the company reported over 13 per cent rise in net profit for the September quarter.
The company had on Saturday reported 13.24 per cent rise in net profit at Rs 913.8 crore for the September quarter against Rs 806.92 crore in the year-ago period.
During the quarter, the company logged net sales of Rs 6,747.2 crore compared with Rs 6,155.41 crore during the same period last year.
Reacting to the numbers, the company shares opened at Rs 603.20 and jumped 4.33 per cent from its previous close to Rs 619.95 on the BSE. Similarly on the National Stock Exchange, the stock opened at Rs 604, and then rose 4.15 per cent to Rs 618.65.
The surge in the counter assumes significance as the broader market was trading almost flat. The 30-share benchmark index Sensex was trading at 20,706.81, up 23.29 points.
Hindustan Unilever, which sells brands like Lux, Dove, Rin and Surf, among others, said it has seen a growth of 10 per cent in revenue terms in its domestic consumer business with an underlying volume growth of 5 per cent.
The market growth for the industry is in mid single-digit in revenue terms and the volume growth is very low, the company said.