Packaged foods put HUL, ITC on divergent paths

HUL reported a growth rate of only 2.4 per cent in packaged foods for the quarter ended on March 31

Consumer goods majors Hindustan Unilever (HUL) and ITC are a study in contrast when their packaged food businesses are taken into account. While HUL’s business in the category has witnessed a sharp year-on-year decline, ITC’s likely to grow in double digits in the same period.

HUL on Wednesday reported a growth rate of only 2.4 per cent in packaged foods for the quarter ended on March 31 — its fourth straight quarter of single-digit growth in the segment. However, the company’s full-year numbers indicate where it actually stands vis-a-vis competition.

ITC is yet to announce its results.

HUL’s packaged food