MUMBAI (Reuters) - India's largest consumer goods firm, Hindustan Unilever Ltd, said on Friday its profit slumped 22 percent, missing analysts' estimates, as weak demand in rural India continued to hurt sales.
The Indian unit of Anglo-Dutch consumer group Unilever reported October-December earnings of 9.71 billion rupees, well below the 12.52 billion rupees posted during the same period a year ago. Analysts polled by Thomson Reuters had expected 10.56 billion rupees.
HUL, which is seen as a barometer of Indian consumer sentiment, has been forced to cut prices on key products in recent months, as households have been squeezed because of a weak monsoon and rising food prices.
(Reporting by Zeba Siddiqui in Mumbai; Editing by Sunil Nair)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app