Business News | FMCG Major HUL Posts 19 Pc Jump in Q3 Net Profit at Rs 1,921 Crore

Mumbai (Maharashtra) [India], January 27 (ANI): Fast-moving consumer goods major Hindustan Unilever Ltd (HUL) on Wednesday reported 19 per cent jump in its net profit for the October to December quarter to Rs 1,921 crore.

It reported a turnover growth of 20 per cent to Rs 11,682 crore from the year-ago quarter while its domestic volume growth -- excluding the contribution of GSK Consumer products -- jumped by 7 per cent.

"Higher mobility, consumer-relevant innovations and investments behind market development are driving business momentum. Our business fundamentals remain strong with 86 per cent of our business gaining penetration," the company said in a statement.

The company's operating margin for the quarter stood at 24 per cent, which was 90 basis points lower than the year-ago quarter, reflecting the impact of higher input costs.

"With Covid cases coming down sharply and increasing mobility, economic activity in the country continues to improve," said Chairman and Managing Director Sanjiv Mehta. The rapid rollout of vaccines will give further impetus to economic growth.

"The near-term demand outlook is improving. We expect to see revival in urban while rural should continue to do well. Inflationary pressures are building up in select commodities and we will manage them judiciously," he added.

HUL's homecare products operations grew in double-digits in the December quarter while its beauty and personal care segment clocked 9 per cent on-year rise in revenues.

Foods and refreshment sustained the high growth momentum growing at 19 per cent. "Our nutrition business too grew in double-digits as business returned to normalcy post-restoration of disrupted supply lines," the company said.

"We have seen significant improvement in discretionary categories," it added. (ANI)

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