Hindustan Unilever Limited (HUL), one of the leading consumer durable company in India, posted a net profit of Rs 1,351 crore in the fourth quarter of 2018, beating CNBC-TV18 poll estimates by 1%.

The company's standalone revenue was up 2.6% at Rs 9,197 crore compared to Rs 8,969 crore in the same quarter previous year. HUL also posted a higher volume growth at 11%.

The profit after tax (PAT) was up by 14% at Rs 1,351 crore from Rs 1,183 crore year-on-year, helped by higher sales in its home-care business.

The revenue from its home-care business rose 3.26% at Rs 3,102 crores compared to Rs 3,004 crore in the same quarter previous year.

"Cost of goods sold were lower, supported by the strong savings programme. Advertising and promotion programme stepped up to support innovations and marketing activation during the quarter," the company said.

Harish Manwani, Chairman, commented: “Despite a step-up in competitive intensity, we have delivered another strong performance for the quarter and the year. Growth and improvement in profitability have been sustained through a combination of winning innovations and a relentless focus on operational efficiencies. We are particularly pleased with our track record of sustained margin improvement for the seventh consecutive year.

In the near term, we are seeing a gradual improvement in demand and this augurs well for the sector. We will continue to manage our business dynamically and will remain focused on our strategy of delivering consistent, competitive, profitable and responsible growth.”