HUL Q3 net profit more than doubles to ₹6,607 crore on demerger gain

Underlying PAT grows 1 per cent to ₹2,562 crore; revenue up 5.6 per cent in Q3FY26; HUL to fully acquire OZiva for ₹824 crore, divest Wellbeing Nutrition stake

Hindustan Unilever’s (HUL’s) consolidated net profit (attributable to shareholders) more than doubled in October-December 2025 compared to last year due to a one-off impact of the demerger of its ice cream unit. 

This entered the books in accordance with the approved scheme of demerger and applicable accounting standards.

Excluding exceptional items, profit after tax (PAT before exceptional items), at ₹2,562 crore, grew by 1 per cent. Its underlying growth in volumes stood at 4 per cent in the quarter. 

“During the quarter, demand trends reflected early signs of recovery, underpinned by supportive policy measures. Against this backdrop, we delivered a competitive performance, with 6 per cent revenue growth and 4 per cent underlying volume growth,” Priya Nair, chief executive officer (CEO) and managing director, said in its results release. 

 

Reported net profit stood at ₹6,607 crore. Net sales grew 5.7 per cent in the quarter to ₹16,441 crore compared to last year. 

In a post-results press conference, Nair said: “I would say macro trends are favourable. Consumer sentiment and demand are seeing an uptick. This is on account of two factors. One is the macro forces in the country, whether they are low food prices, reforms like those in goods and services tax, or direct-tax benefits. The bigger improvement is in rural areas, which continue to outperform urban segments, but we’re seeing both urban and rural growth stable and strong.” 

Fernando Fernandez, CEO, Unilever, told investors: “In India, it is (volumes) improving, both in terms of economic backgrounds and the fundamentals of the business, particularly the strengthening of our brand equities. Our ‘brand superiority’ scores in India are improving. Our execution, particularly in rural areas and traditional trade, independent trade, is also improving.” 

The company’s earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at ₹3,788 crore, growing 3 per cent year-on-year, while the Ebitda margin stood at 23.3 per cent, remaining in the guided range, the company said in its release. 

“We continued to build desirability at scale with our brands, accelerate market development in high-growth demand spaces, and strengthen our capabilities to scale channels of the future with a dedicated organisation for quick commerce. As market leaders in fast-moving consumer goods, our commitment to build modern brands, lead category creation, and invest disproportionately to build future moats places us in good stead to deliver sustained volume-led growth and create long-term shareholder value,” Nair added in the press release. 

Different channels are becoming significant across India, she said. “Quick commerce for us has been doubling quarter-on-quarter.” Its contribution to HUL’s revenue is 3 per cent, she said. 

“You need tailored strategies and systems for each of these channels. We are designing for each of our channels dedicated systems, processes, and organisation,” she added. 

Niranjan Gupta, executive director (finance) and chief financial officer, said at the press conference that the company was building a bespoke operating model for high growing channels. 

“We also continue to double down on fewer, bigger bets, leveraging our strength to scale brands and lead category creation,” he added. 

Talking about the outlook, Gupta said: “We expect the operating environment to remain conducive for a sustained recovery in consumption, aided by several factors. Our broadbased growth in the current quarter reflects gradual momentum across our portfolio, coupled with a positive consumption environment. We expect growth in FY27 to be better than FY26.” He added growth remained the company’s priority. 

“We will continue to invest in the business as needed to support sustained growth, and hence, we expect Ebitda margins to stay around the current guided range,” he said.