CHENNAI: Fast moving consumer goods (FMCG) major Hindustan Unilever Ltd (HUL) closed the third quarter of FY24 with marginally higher profit of Rs 2,519 crore, largely boosted by other income and other operational revenue on a reduced sales.
In a regulatory filing, HUL said for the quarter ended December 31, 2023 it had logged a sales revenue of Rs 14,928 crore (against Q3FY23 Rs.14,986 crore) and a net profit of Rs 2,519 crore (Rs 2,505 crore).
The quarter under review saw the company’s other income going up to Rs 285 crore (Rs 228 crore) and the other operating revenue standing at Rs 260 crore (Rs 242 crore).
During the quarter under review, the company’s total expenses went up to Rs 12,011 crore (Rs 11,977 crore).
Sales of beauty and personal care and home care went down during the third quarter of FY24.
According to the company, the uneven monsoon, delayed winter, weak consumer sentiment, and uneven economic recovery makes the operating environment a challenging one.
The company said urban resilience continues while rural demand remains subdued.