FMCG major Hindustan Unilever Ltd on Thursday reported 11.6% increase year-on-year (YoY) in its standalone net profit for the third quarter ended December 2022.
The firm reported Rs 2,505 cr profit, compared to Rs 2,243 crore in the corresponding quarter of FY22.
The company had posted a net profit of Rs 2,300 crore in the October-December quarter of the previous fiscal.
HUL ad spends increased marginally by 1.34% to Rs 1209 crore for the quarter ended December 31, 2022 as compared to Rs 1193 crore for the quarter ended December 31, 2021. Compared to previous quarter, it increased by 14.81%. HUL ad spend for the previous quarter stood at Rs 1053 crore.
The company said that higher sales helped make up for a rise inflation.
The profit was higher than the average profit forecast of Rs 2,498 crore by analysts.
The company witnessed double-digit revenue growth of 16% at Rs 14,986 crore for the third quarter of the financial year 2022-23 as against Rs 12,900 crore in FY22.
Segment-wise, Home Care clocked 32% revenue growth, while Beauty and Personal Care rose 10% and Foods and Refreshment delivered 7% growth.
