HUL, ITC results decoded: Green shoots begin to show in consumer goods

The results of bellwethers HUL and ITC point to a recovery in the market. But the question is: Will it sustain?

The quarterly performance of a few key companies, whose numbers are just out, point to a resurgence in the domestic consumer goods market.

These include bellwethers such as Hindustan Unilever (HUL) and ITC (specifically its other FMCG business) as well as smaller firms such as Jyothy Laboratories (Jyothy Labs) and Bajaj Corp.

HUL reported a 11 per cent volume and revenue growth, respectively, for the December quarter, while ITC reported a nearly 12 per cent revenue growth in Q3 within its other FMCG business, which excludes cigarettes. On the bottom line front, while HUL saw a 28 per cent jump