Hindustan Unilever Q3 net profit rises 7.9% to ₹2,481 crore
The Hindu
Worst of inflation is behind us; this should aid in a gradual recovery of consumer demand, says Mehta, chairman and MD
FMCG company Hindustan Unilever Ltd. (HUL) on Thursday reported a 7.9% increase in consolidated net profit to ₹2,481 crore for the third quarter ended December.
Total income rose 16.4% to ₹15,707 crore, HUL said in a regulatory filing.
Total expenses rose to ₹12,225 crore from ₹10,329 crore.
HUL CMD Sanjiv Mehta said: “We are cautiously optimistic in the near term and believe that the worst of inflation is behind us. This should aid in a gradual recovery of consumer demand”.
"We remain focussed on managing our business with agility and continue growing our consumer franchise whilst maintaining margins in a healthy range. We stay confident of the medium to the long-term potential of the Indian FMCG sector and HUL's ability to deliver consistent, competitive, profitable and responsible growth," he added.
HUL also said its board had approved an increase in royalty and central services arrangement fee to its parent Unilever group for getting technology, trademark licences and services.
The new arrangement envisages increasing royalty and central services fees to 3.45% of turnover in a staggered manner over a period of three years from 2.65% in FY22, the company said in a regulatory filing.