Unilever's India quarterly profit disappoints; sees signs of rebound in rural sales
BENGALURU/CHENNAI (Reuters) -Hindustan Unilever, the Indian arm of UK's Unilever, posted a bigger-than-expected fall in quarterly profit on Wednesday, but indicated signs of a much-anticipated sales recovery in rural areas. Lower prices of select raw materials have also allowed a few of Hindustan Unilever's brands as well as that of peers such as Saffola-owner Marico to cut prices and stay competitive. Hindustan Unilever said its profit fell nearly 6% to 24.06 billion rupees ($288.9 million), missing estimates of 24.44 billion rupees, according to LSEG.