HUL Q3 net profit rises 19 percent to Rs 1,921 crore
FMCG major Hindustan Unilever Ltd (HUL) witnessed a 19 percent jump in its net profit to Rs 1,921 crore ($263.6 million) for the third quarter ended December 2020, as against a net profit of Rs 1,616 crore it had reported in the corresponding period last year.
The company’s revenue for the quarter rose by 21 percent to Rs 11,862 crore, as against Rs 9,808 crore in the corresponding period of the previous fiscal.
HUL's total expenses also rose by 22 percent to Rs 9,548 crore for the quarter, as compared to Rs 7,849 in the year-ago period.
Commenting on the third-quarter results, HUL chairman and managing director, Sanjiv Mehta, in a statement said: “Our consumer-relevant innovations, market development, and execution excellence have enabled us to drive broad-based growth across our categories in the December quarter.”
“We expect to see a 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 added.
Hindustan Unilever is the country’s largest consumer goods company and is expecting stable demand for the financial year 2021, post the Covid-19 disruptions.
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