Hindustan Unilever Ltd’s consolidated net profit rose by 20.3 per cent to Rs 1,938 crore in the third quarter ended December 2020 as compared to Rs 1,631 crore in the year ago period.
On Wednesday, the FMGC major posted 20.26 per cent increase in its sales for the quarter under review at Rs 11,969 crore, as against Rs 9,953 crore in the corresponding quarter previous fiscal.
Similarly, total expenses also witnessed a sharp rise of 21.65 per cent to Rs 9,548 crore in Q3 FY2020-21. The company had posted total expense of Rs 7,849 in the year-ago period.
In a statement, HUL CMD Sanjiv Mehta said, “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,” he added.
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.
Post the announcement of Q3 results, company’s shares settled at Rs 2,390.75 on BSE, down 0.87 per cent from the previous close.