Note ban hits consumer goods firms hard in Q3, HUL sales volume dip 4%

The picture incidentally was no different for Asian Paints, country's largest decorative paints co

The December quarter results, declared by key consumer goods companies, so far show the Rs 3.2-lakh-crore domestic fast-moving consumer goods (FMCG) market has borne the brunt of the high-value note ban announced by the government two months ago.

The country’s largest FMCG company — Hindustan Unilever (HUL) — saw sales volume fall by four per cent for the December quarter. However, an equivalent increase in realisation (that is, price-led growth was four per cent for the quarter) ensured the impact on revenue (net sales plus other operating income) was marginal, falling 0.7 per cent to Rs 7,706 crore versus Rs