Infrastructure

Hindustan Unilever December quarter profit up 19%

Read more at www.livemint.com

Net profit for the third quarter of the current fiscal was at Rs1,921 crore, up from Rs1,616 crore reported a year ago.

Also Read | How India has become an unequal republic

Domestic consumer growth, excluding the impact of merger of GSK CH and acquisition of VWash, grew 7% during the quarter, the maker of Lux soaps and Knorr soups said.

Standalone revenue for the quarter rose 20.9% year-on-year to Rs11,862 crore.

A Bloomberg poll of 17 analysts had estimated standalone revenue at Rs11,566.7 crore for the company, with profit seen at Rs2,052.6 crore.

Higher mobility, consumer relevant innovations, and investments for market development helped the company drive business momentum.

“With covid cases coming down sharply and increasing mobility, economic activity in the country continues to improve. The rapid rollout of vaccines will give further impetus to economic growth. Our consumer relevant innovations, market development and execution excellence have enabled us to drive broad based growth across our categories in the December quarter,” said Sanjiv Mehta, chairman and managing director at the company.

Mehta pointed to recovery in the company’s discretionary segments.

“The near-term demand outlook is improving, and 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. I am confident that we are very well positioned to capture the growth opportunities and accelerate momentum,” he said.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Read more at www.livemint.com

Show More

Related Articles

Back to top button