HUL Dec-qtr net up 7% at Rs 1,037.93 cr

23/01/2017 17:14

FMCG major Hindustan Unilever Ltd (HUL) on Monday reported a growth of 6.8 per cent in its standalone net profit after tax at Rs 1,037.93 crore for the October-December quarter of FY17.

The company had posted a net profit of Rs 971.66 crore during the third quarter ended December 31, 2016, Hindustan Unilever Ltd said in a filing to the Bombay Stock Exchange on January 23, 2017.

However, HUL’s sales slipped 1.2 per cent to Rs 8,124.48 crore during the quarter under review as against Rs 8,226.55 crore in the earlier quarter.

It’s total income fell by 1.5 per cent to Rs 8,400.38 crore in Q3 FY17 from Rs 8,529.75 crore in Q3 FY16.

Commenting on the performance, HUL, Chairman, Harish Manwani said, “The gradual recovery of the market was temporarily impacted by adverse liquidity conditions. However, our performance demonstrated resilience and agility in this challenging environment. There are early signs of normalisation and our focus continues to remain on innovation led volume growth and improvement in margins. Our strategic agenda of delivering Consistent, Competitive, Profitable and Responsible growth remains unchanged.”

Meanwhile, shares of the company ended Monday’s trade at Rs 863.25 apiece, up 0.25 per cent, from previous close on BSE.

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