HUL net profit increases 4% on one-off tax gain, revenue remains flat

THE country’s largest fast moving consumer goods maker Hindustan Unilever on Thursday reported a muted set of numbers—the first under the new chief executive Priya Nair.

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The company’s consolidated net income remained in the green due to onetime tax gains, inching up 4% to %2,694 crore while revenue from operations grew only about 2% to %16,061 crore in the September quarter.

The consumer goods major received a net positive impact of 184 crore in the second quarter from the resolution of past years’ tax matters between English and Indian tax authorities.