Hindustan Unilever (HUL) witnessed 34 percent rise in its net profit. The FMCG major made profit of Rs 546.61 crore for the quarter ended September 30. Its profit was Rs 408.06 crore during the corresponding quarter of last year. The company managed to increase its net sales by 20 percent as compared to the same quarter of last year. Net sales stood at Rs 4,027.87 despite global financial crisis and volatility problems in the finance system. 

Price increase contributed heavily in the net income and volume production. All FMCG markets performed well and are likely to grow with the same pace due to increased demand of some specific sectors like soaps and detergents.

The company performed well in all categories of business except export. It could not make much from the bulk export of castor and tea. However, the soap and detergents segment registered the least growth of 4.5%.

HUL chairman, Harish Manwani said the company would try its best to improve its net profit. It may revise prices of some commodities to boost its business. HUL has shown good results despite inflationary pressure.

The shares of the company declined by 7.6 percent and closed at Rs 224.9