Unilever reports 7 % profit rise in Q2 despite 2% drop in turnover

ShareSansar, February 14:

Unilever Nepal Limited has reported a 7 percent rise in its net profit in the second quarter of the current fiscal year 2070/71.

According to the unaudited financial statement for the second quarter published by the multinational company today, its profit after tax has risen to Rs 18.86 crore up from 17.68 crore in the corresponding quarter of the last fiscal year.

Going by the profit available for appropriation after calculating profit brought forward from the previous quarter, its net profit stands at  Rs 91.21 crore as compared to Rs 80.4 crore in the corresponding quarter.

It may be noted, however, that the company’s turnover has dropped by 2 percent on account of less number of working days due to the bandhs in the run up to the Constituent Assembly election.

The growth is attributable to its operational profit, which due to lesser expenses, rose Rs 28.58 crore up from Rs 24.45 crore in the corresponding quarter.

Unilever has also stated that it faces problem such as maintaining growth momentum in challenging environment due to uncertain economic outlook and intense competition.

Its EPS has gone up to Rs 205 from Rs 192 in the second quarter of the previous fiscal, and its net worth per share now stands at Rs 1091, up from Rs 974.