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HUL Q3 results: Net profit rises 19% YoY to Rs 1,921 crore, misses estimates

Updated : January 27, 2021 05:27 PM IST

In the corresponding quarter last year, the Mumbai-headquartered company posted a net profit of Rs 1,616 crore.

CNBC-TV18 Polls had predicted a profit of Rs 2,050 crore for the quarter under review.

FMCG major Hindustan Unilever Ltd (HUL) on Wednesday reported 19 percent jump in its net profit to Rs 1,921 crore for the third quarter ended December 2020.

In the corresponding quarter last year, the Mumbai-headquartered company posted a net profit of Rs 1,616 crore. CNBC-TV18 Polls had predicted a profit of Rs 2,050 crore for the quarter under review.

Its revenue from operations increased 20.9 percent to Rs 11,862 crore during the quarter under review as against Rs 9,808 crore in the corresponding period of the previous fiscal.

Its sales during the quarter increased 20.26 per cent to Rs 11,969 crore, as against Rs 9,953 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing. HUL's total expenses too rose 21.65 per cent to Rs 9,548 crore in Q3 FY2020-21 compared to Rs 7,849 in the year-ago period.

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 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.

Shares of HUL on Wednesday settled at Rs 2,390.75 on BSE, down 0.87 percent from the previous close.

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