Hindustan Unilever Q2 profit misses estimates

Hindustan Unilever, India's largest consumer goods company, on Wednesday reported a 2.6 per cent fall in second-quarter profit, missing analysts' expectations, as it cut prices.

The Indian unit of the Anglo-Dutch consumer group Unilever Plc posted a net profit of Rs 962 crore or Rs 9.62 billion ($147.9 million), down from Rs 988 crore or Rs 9.88 billion  a year earlier.

Net sales rose 5 per cent to Rs 7,820 crore or Rs 78.20 billion.

Analysts on average were expecting a profit of Rs 1,043 crore or Rs 10.43 billion, according to Thomson Reuters data.