Hindustan Unilever posts Q3 net profit of Rs 2,519 crore

Hindustan Unilever Limited (HUL) reported a one percent rise in its standalone net profit at Rs 2,519 crore ($303.3 million) for the December quarter, as against Rs 2,505 crore in the same quarter of the previous financial year.

The company’s revenue for the quarter was down by 0.5 percent at Rs 14,928 crore, as against Rs 14,986 crore in the year-ago quarter.

Commenting on the results, Rohit Jawa, CEO of HUL in a statement said, “Looking forward we expect gradual recovery in market demand to continue aided by increased Government spending, recovery in winter crop sowing and better crop realization. Rural income growths and winter crop yields are key factors that will determine the pace of recovery.”

“In this context, our focus remains on driving competitive volume growth whilst stepping up investment behind our brands and long-term strategic priorities. We remain confident of the mid to long term potential of Indian FMCG sector and HUL remains well positioned to unlock this opportunity whilst navigating the short-term challenges,” he added.

Hindustan Unilever is the country’s largest consumer goods company with a strong presence in the beauty and personal care segment.