NEW DELHI: FMCG major Hindustan Unilever Ltd on Wednesday reported a 20.3 per cent rise in consolidated net profit to Rs 1,938 crore for the third quarter ended December 2020.
The company had posted a net profit of Rs 1,631 crore in the October-December quarter previous fiscal.
Its sales during the quarter increased 20.26 per cent to Rs 11,969 crore, as against Rs 9,953 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.
HUL’s total expenses too rose 21.65 per cent to Rs 9,548 crore in Q3 FY2020-21 compared to Rs 7,849 in the year-ago period.
“Our consumer-relevant innovations, market development and execution excellence have enabled us to drive broad-based growth across our categories in the December quarter.
“I am particularly pleased with the performance of our Nutrition business and with the recovery in the discretionary segments of our portfolio; these are structurally attractive and offer immense growth potential,” HUL CMD Sanjiv Mehta said.
He further noted that the near-term demand outlook is improving.
“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.
Shares of HUL on Wednesday settled at Rs 2,390.75 on BSE, down 0.87 per cent from the previous close.