Unilever Plc, the Anglo-Dutch parent of Hindustan Unilever Ltd (HUL), said challenging conditions in India and Brazil, two of its largest markets, had crimped its earnings last year. The Indian unit contributes a little less than 10% of overall revenue and a little more than 10% of profit. Unilever attributed the poor performance of its Indian unit to demonetisation (India scrapped old high-value currency notes on 8 November). The consumer goods giant also expects the March quarter performance to be soft. Since the announcement of its earnings on Monday, HUL’s shares have risen 0.68% while the Sensex has gained 2.2%.

Source: Mint January 26, 2017 09:42 UTC