Q3: HUL net up 16%, flags near-term challenges

Despite moderation in market growth and significant levels of commodity inflation, Hindustan Unilever Ltd (HUL) on Thursday reported a 16.76 per cent jump in net profit at Rs 2,243 crore for the quarter ended December 31, 2021 as against Rs 1,921 crore in the year-ago period.

The company’s total income grew 10.23 percent to Rs 13,183 crore for the December quarter as against Rs 11,959 crore a year ago. Growth in the quarter was competitive and profitable with domestic consumer growth of 11 per cent.

“… Underlying volume growth at 2 per cent was significantly ahead of the market,” the FMCG major said.

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HUL Chairman and MD Sanjiv Mehta said, “We have delivered a strong and resilient performance in the quarter despite moderation in market growths 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.”

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In the near-term, operating environment will continue to remain challenging, HUL said.