FMCG major Hindustan Unilever on Tuesday reported an 8.58 percent increase in consolidated net profit to Rs 1,974 crore for the quarter ended on September 30, 2020. The company had posted a net profit of Rs 1,818 crore in the July-September quarter of the previous fiscal.
According to a PTI report: Its sales during the quarter under review stood at Rs 11,510 crore, up 15.89 percent compared to Rs 9,931 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.
Commenting on the results, Sanjiv Mehta, CMD, HUL told PTI, “In the context of a challenging economic environment, our growth has been competitive and profitable. We continue to demonstrate execution prowess, agility, adaptability, resilience, and passion of our people.”
HUL has expanded its portfolio with consumer relevant innovations and have invested strongly behind brands.
“Our operations and service levels are now back to pre-COVID levels and we have accelerated the pace of digitising our operations under the ‘Re-imagine HUL’ agenda,” he was quoted by PTI as saying.
Mehta further said rural markets have been resilient but the demand in urban India, especially in metropolitan cities, has been muted.
“We believe that the worst is behind us and we are cautiously optimistic on demand recovery,” he told PTI.
HUL’s total expenses were at Rs 9,054 crore in July-September 2020-21 as against Rs 7,885 crore in the year-ago quarter.