The India unit of Anglo-Dutch Unilever posted a quarterly profit that exceeded market expectations. The company said it outperformed the broader Fast Moving Consumer Goods market in both value and volume during the January-March period. Consumer demand grew 9% from the previous year to $1.21 billion in the fiscal fourth quarter, with volume expanding 6%. Personal products, a segment contributing 50% of Unilever’s profit, and driven by brands such as Dove, Fair & Lovely and Tresemme, rose 13% to $360 million.
“The quarter could indicate a beginning to a bounce back in demand for HUL products, especially oral and personal care” said Abneesh Roy, associate director at Edelweiss Securities.
The cost of goods sold was down by 3.1 percentage points due to declining prices of raw materials such as crude and palm oil, and sales of soaps and detergents, which represent more than half its business increased 5% to $67 million (Rs 3,673.7 crore) reports The Economic Times. The company’s annual net profit increased 12% to $640 million.
