Profit leaps 15 percent at Hindustan Unilever

Profit leaps 15 percent at Hindustan Unilever

Hindustan Unilever saw profit rise a better-than-expected 15 percent to 17.55 billion rupees over the first quarter of the financial year (ended June 30), according to a report published by the Nikkei Asian Review.

However, the Indian branch of the Anglo-Dutch FMCG behemoth cautioned that it was facing ‘subdued demand’ in the not-too-distant future thanks to a slowing economy as spending contracts, particularly in rural areas.

Revenue rose 6.6 percent to 101.14 billion rupees, and sales volume was up 5 percent, in line with analyst expectations but still its slowest volume growth in seven quarters.

“We remain confident of the medium- to long-term growth prospects of the fast-moving consumer goods sector,” Srinivas Phatak, HUL CFO told journalists at a press conference, per Nikkei Asian Review.

Leave a reply

Your email address will not be published. Required fields are marked *