Biz fundamentals remain strong: HUL

New Delhi: FMCG major Hindustan Unilever Ltd (HUL) on Thursday reported an 18.68 per cent increase in consolidated net profit to Rs2,300 crore for the third quarter ended December 2021. The company had posted a net profit of Rs1,938 crore in the October-December period of the previous fiscal. Revenue from sales during the quarter under review stood at Rs13,196 crore, up 10.25 per cent, as against Rs11,969 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.

HUL's total expenses were at Rs 10,329 crore in Q3 FY2021-22 as against Rs 9,548 crore earlier.

"Business fundamentals remained strong with handsome market share gains in all our divisions, both urban and rural markets and across price segments. Underlying Volume Growth at 2% was significantly ahead of the market," HUL said in a post-earning statement. Shares of HUL on Thursday settled at Rs 2,261.60 on BSE, down 2.13 per cent from the previous close.

HUL CMD Sanjiv Mehta said: "The company has delivered a strong and resilient performance in the quarter despite moderation in market growth and significant levels of commodity inflation. I am particularly pleased that the growth is extremely competitive with our market share gains being highest in more than a decade. Our performance is reflective of our strategic clarity, strength of our brands, operational excellence, and dynamic financial management of our business."

However, he added that in the near-term, operating environment will continue to remain challenging. "In this scenario, we will manage our business with agility, continue to grow our consumer franchise whilst maintaining our margins in a healthy range. We remain confident of the medium to long term potential of Indian FMCG sector and HUL's ability to deliver a Consistent, Competitive, Profitable and Responsible growth," Mehta added.