Unilever reports 9.5% growth in profit despite 7.5% decline in turnover

ShareSansar, May 15:

Unilever Nepal Limited has reported a 9.5 percent rise in its net profit in the third quarter of the current fiscal year 2070/71.

According to the unaudited financial statement for the third quarter published by the multinational company today, its profit after tax has risen to Rs 22.05 crore up from 20.14 crore in the corresponding quarter of the last fiscal year.

Though the company’s turnover for current quarter has decreased by 7.5 percent the net profit after tax of the company has increased by 9.5 percent over the same period 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 1.13 arba as compared to Rs 1 arba in the corresponding quarter.

Unilever has not explicitly cited the reasoning for the decrease in the turnover but it has stated that they faced problem such as maintaining growth momentum in challenging environment due to uncertain economic outlook and intense competition.

Its EPS has gone up to Rs 239.5 from Rs 218.7 in the third quarter of the previous fiscal, its net worth per share now stands at Rs 1330, up from Rs 1193 and the P/E ratios now is at 46.34 times compared to 42.51 times.