New Delhi:
FMCG wholesaler Hindustan Unilever Ltd on Thursday reported an 18.68 percent increase in consolidated net profit to Rs 2,300 crore for the third quarter ended December 2021.
The company had posted a net profit of Rs 1,938 crore in the period October-December of the previous fiscal year.
Revenue from sales during the reporting quarter was Rs 13,196 crore, up 10.25 percent, from Rs 11,969 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.
The total cost of HUL was Rs 10,329 crore in Q3 FY2021-22 as against Rs 10,129 crore earlier.
“Business fundamentals remained strong with strong market share gains across all our divisions, both urban and rural markets and price segments. Underlying volume growth of 2% was significantly ahead of the market,” HUL said in a post-earning statement.
HUL CMD Sanjiv Mehta said the company delivered a strong and resilient performance in the quarter, despite moderate market growth and significant levels of commodity inflation.
“I am particularly pleased that the growth is extremely competitive, with the highest market share in more than a decade. Our performance reflects our strategic clarity, the strength of our brands, operational excellence and dynamic financial management of our company,” he said. .
However, he added that the work environment will remain challenging in the near term.
“In this scenario, we will manage our business with agility, continue to grow our consumer franchise while keeping our margins in a healthy range. We remain confident in the medium to long-term potential of the Indian FMCG sector and HUL’s ability to consistent, Competitive, profitable and responsible growth,” added Mehta.
Shares of HUL traded at Rs 2,261.60 on BSE on Thursday, down 2.13 percent from the previous close.
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