FMCG major HUL posted a profit growth of a mere 0.6% YoY to Rs 2,519 crore while missing the ETNow poll estimate of Rs 2,724 crore. Revenue dropped 0.3% YoY to Rs 15,188 crore and also trailed estimates of Rs 15,533 crore.
Hindustan Unilever (HUL Q3) remains cautiously optimistic as it reports its Q3 financial results. The company expects a gradual recovery in market demand to continue, supported by increased Government spending, recovery in winter crop sowing, and better crop realization. CEO Rohit Jawa emphasizes that rural income growths and winter crop yields will determine the pace of recovery.
HUL Q3 Profit: On the Q3 FY24 results Rohit Jawa, CEO and managing director commented, "HUL has delivered another quarter of resilient performance with strong operating fundamentals amidst a challenging operating environment. Our focus on providing the right consumer value, excellence in execution, increased investments behind brands and capabilities, premiumisation and market development continues to serve us well. 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."
HUL posted a 16.8 per cent year-on-year rise in standalone net profit at Rs 2,243 crore in the quarter ended December 31, 2021, as India's largest consumer goods maker gained market share in both urban and rural areas amid the COVID-19 pandemic.