HUL Q3 net profit rises 12% to `1,616 crore

In a separate filing, HUL said its board, in a meeting held Friday, approved appointment of Ashish Sharad Gupta as independent director with effect from January 31.

FMCG major Hindustan Unilever Ltd (HUL) on Friday reported a 12 per cent rise in net profit at Rs 1,616 crore for the December quarter of 2019-20, as against a profit of Rs 1,444 crore in October-December period of the last fiscal.

Net sales during the quarter under review rose 2.94 per cent at Rs 9,948 crore from Rs 9,664 crore in the year-ago period, HUL said in a statement. HUL’s domestic consumer growth was 4 per cent with underlying volume growth at 5 per cent in the quarter, it said. “This quarter witnessed an overall challenging market environment, mainly reflecting a sharp slowdown in rural and discretionary spends. In this tough environment, HUL has delivered a resilient performance which is reflective of the strength of our brands, consistency in strategy and execution prowess,” said HUL CMD Sanjiv Mehta.

In a separate filing, HUL said its board, in a meeting held Friday, approved appointment of Ashish Sharad Gupta as independent director with effect from January 31. Gupta is an entrepreneur, advisor and strategic angel investor. He co-founded Helion Advisors in 2006 and represents Helion Advisors, managing a corpus of $600 million across three funds, HUL said.