Hindustan Unilever Ltd., the Indian arm of the global consumer goods titan, posted quarterly profit in line with market estimates, boosted by a broad economic recovery that was overshadowed by warnings of inflationary challenges ahead.
Net income for the Mumbai-based unit of Unilever Plc. rose 9% to Rs 2,190 crore ($291 million) in the quarter ended Sept. 30, according to an exchange filing Tuesday. That nearly matched the average Rs 2,200 crore forecast by analysts in a survey by Bloomberg. Revenue advanced 11% from the year-ago period to Rs 12,520 crore while costs jumped 12%.
Benefits from a rebounding economy as lockdown-weary Indians finally started stepping out were offset by the unprecedented rise in raw material prices for the maker