Hindustan Unilever's third quarter net profit rises to ₹2,481 crore: Report

FMCG major Hindustan Unilever Ltd on Thursday reported a 7.9 per cent increase in its consolidated net profit to ₹2,481 crore for the third quarter ended December 31, 2022.

The company had posted a net profit of ₹2,300 crore in the October-December quarter of the previous fiscal.

Its consolidated total income during the quarter under review rose 16.35 per cent to ₹15,707 crore against ₹13,499 crore a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.

HUL's total expenses were at ₹12,225 crore in Q3 FY22 as against ₹10,329 crore in the year-ago period.

Commenting on the result, HUL CMD Sanjiv Mehta said the company has sustained its strong momentum and had yet another quarter of solid all-round performance.

"Our consistent performance is reflective of our strategic clarity, the strength of our brands, excellence in execution, and dynamic financial management," he added.

Looking forward, Mehta said, "We are cautiously optimistic in the near term and believe that the worst of inflation is behind us. This should aid in a gradual recovery of consumer demand".

"We remain focused on managing our business with agility and continue growing our consumer franchise whilst maintaining margins in a healthy range. We stay confident of the medium to the long-term potential of the Indian FMCG sector and HUL's ability to deliver consistent, competitive, profitable and responsible growth," he added.