HUL's Q3 net profit rises 12 pc to Rs 1,616 crore

FMCG major Hindustan Unilever Ltd (HUL) on Friday reported nearly 12 per cent jump in its net profit of Rs 1,616 crore in the third quarter of current fiscal (Q3 FY20) compared to Rs 1,444 crore in the year-ago period.

The company's revenue in the quarter was up by 2.6 per cent at Rs 9,808 crore versus Rs 9,558 crore. Segmental revenue remained more or less flat in all categories except for home care which grew by 9.8 per cent.

Beauty and personal care was impacted by higher-than-expected market slowdown. Food and refreshment saw robust growth amid a challenging environment.

The margin expansion was sustained owing to the savings agenda with earnings before interest, taxes, depreciation and amortisation (EBDITA) at Rs 2,445 crore, up 19 per cent from Rs 2,046 crore year-on-year.

Chairman and Managing Director Sanjiv Mehta said the market growth continues to be sluggish and demand outlook challenging. The commodities and currency will continue to be volatile.

"HUL will drive agility and responsiveness across the value chain given the challenging environment. We will continue to deliver consistent, competitive, profitable and responsible growth," he said in a statement.

In another announcement, the company announced the appointment of Willem Uijen as Executive Director for supply chain and a member of the HUL board from January 1.

Besides, Ashish Gupta was appointed as an independent director to the board.

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