New Delhi: FMCG major Hindustan Unilever (HUL), on Friday, has reported a marginal rise of 1.08 per cent in consolidated net profit at Rs 2,508 crore in the third quarter (Q3) ended December 31, 2023, as against the net profit of Rs 2,481 crore in the similar period of the previous financial year, it said in a BSE filing.
The company’s sale of products drops to Rs 15,259 crore in Q3 FY24 as against the sale of products of Rs 15,314 crore in Q3 FY23.
HUL’s total expenses also increased to Rs 12,305 crore in Q3 FY24 as compared to Rs 12,225 crore in the same quarter last fiscal, as per the regulatory filing.
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.”
Further, he added, “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.”