Cost control measures help HUL regain strength, sales volume up 11% in Q3

Curbing raw material costs crucial as note ban, GST overhangs are behind

Is the worst behind for India’s FMCG companies? At least the December quarter (Q3) results reported by FMCG major — Hindustan Unilever (HUL), which were ahead of the Street’s estimates on all counts, says so. 

HUL’s better-than-anticipated volume growth of 11 per cent versus estimates of 8-9 per cent increase, and operating profit margins suggests that demonetisation is a thing of the past and industry has tackled the hiccups of the goods and services tax or GST quite in its stride. 

In anticipation of good results, the HUL stock scaled to its all-time high on Wednesday, before closing marginally in