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L&T net rises 15% to Rs666 crore for Q1

Engineering and construction major Larsen and Toubro (L&T) registered a net profit Rs666 crore in the first quarter of 2010-11, a growth of 15%, as compared to Rs578 crore in the same quarter a year ago.

The Mumbai-based company also registered a rise of 63% in the placement of orders which stood at Rs15,626 crore from the corresponding period of the previous year.

On Tuesday, L&T shares ended 3% lower at Rs1,863 on the Bombay Stock Exchange, while the Sensex closed 0.3% up at 18,077 points.

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HUL Q1 net declines 1.8%, might up prices in coming quarters

Mumbai: Fast Moving Consumer Goods (FMCG) major, Hindustan Unilever Ltd (HUL), on Tuesday said it is looking at increasing the prices of some of its products in the coming quarters with a view to maintain its profit margins, reports PTI.

"We are looking at some price changes in the coming quarters. We are planning to increase the prices of a few products to maintain margins...pricing will be up," HUL's chief financial officer, R Sridhar, told reporters in a conference call.

He, however, refused to specify the particular categories where consumers could feel the pricing pressure.

The company's net profit in Q1 FY11 fell 1.8% at Rs533.21-crore as against Rs543-crore in the year-ago period.

Mr Sridhar attributed the decline to high advertising spends and hardening of raw material costs such as palm oil.

HUL had increased its advertising and promotions spend by 31% to Rs751-crore during the April-June period as against Rs561-crore during the same period in the last fiscal.

The cost of raw materials such as palm oil and packaging materials increased by 7.8% to Rs1,683.26-crore from Rs1,561.31-crore in the year-ago period.

However, the overall sales of the company, during the quarter, rose 7.1% at Rs 4,793-crore as against Rs4,475-crore in the year-ago period.

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