NEW DELHI: FMCG major Hindustan Unilever (HUL) on Monday posted a 21.18 per cent year-on-year (YoY) increase in net profit at Rs 1,848 crore after incorporating the reduction in corporate tax rate.
The company said it has reported a PAT of Rs 1,525 in the corresponding quarter last year as it sold more personal and home care products and benefited from low raw material costs. However, volume growth failed to pick up amid a prolonged slowdown in consumption.
The volume growth for the soap maker rose five per cent for the quarter, unchanged from the preceding three months, compared with a 10 per cent growth in the year-ago quarter.
“Amidst a challenging market environment, HUL has delivered another quarter of resilient performance and sustained margin improvement. Our focus on consumer value, excellence in execution and market development continues to serve us well,” HUL chairman and MD Sanjiv Mehta, said.
The near-term outlook for demand, especially in rural India, remains challenging, he said. The revenue from the home care segment rose to Rs 3,371 crore in July-September 2019, from Rs 3,080 crore in the year-ago quarter, according to its filing on BSE.
The beauty and personal care segment revenue increased to Rs 4,543 crore in the quarter under review.