Hindustan Unilever Q3 net profit rises 12 percent to Rs 2,505 crore

By

Maverick Martins

Published
Jan 19, 2023

Hindustan Unilever (HUL) witnessed a 12 percent rise in its net profit to Rs 2,505 crore ($308 million) for the quarter ended December 2022, as against a net profit of Rs 2,243 crore in the year-ago period.

The company’s revenue for the quarter rose by 16 percent to Rs 15,228 crore, as against Rs 13,092 crore posted in the corresponding quarter of the previous fiscal year.

During the October-December quarter, HUL’s beauty & personal care grew by 10 percent with skin cleansing delivering strong double-digit growth while hair care grew in high single-digit led by strong performance by the ‘Clinic Plus’ brand.

Commenting on the Q3 result, Sanjiv Mehta, CEO managing director at HUL in a statement said, “Sustaining our strong momentum, we had yet another quarter of solid all-round performance delivering double-digit revenue and earnings growth. Our consistent performance is reflective of our strategic clarity, strength of our brands, excellence in execution, and dynamic financial management.”

“Looking forward, we are cautiously optimistic in the near term and believe that the worst of inflation is behind us. We remain focused on managing our business with agility and continue growing our consumer franchise whilst maintaining margins in a healthy range,” he added.

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