Unilever`s India unit misses profit estimates on higher costs
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Hindustan Unilever, the Indian unit of UK's Unilever, reported a smaller-than-expected quarterly profit on Wednesday as the consumer goods maker spent more on advertising to fend off stiff competition.
The Dove soap-maker reported a near-4% fall in profit to 26.12 billion rupees ($310.77 million) for the second quarter ended Sept. 30, compared with 27.17 billion rupees a year earlier.
Analysts, on average, had expected a profit of 26.88 billion rupees, according to data compiled by LSEG.
($1 = 84.0480 Indian rupees)
