HUL Q3 net profit up 7%; cash-ban impacts biz
The total income decreased from Rs. 8529.7 crore for the quarter ended December 31, 2015 to Rs 8400.3 crore for the quarter ended December 31, 2016
FMCG major Hindustan Unilever (HUL) on Monday announced its financial results for the quarter ended December 31, 2016. The company reported a net profit of Rs 1038 crore, a rise of 7% in Q3FY17 as against Rs 971.6 crore during the same period last year.
The total income decreased from Rs. 8529.7 crore for the quarter ended December 31, 2015 to Rs 8400.3 crore for the quarter ended December 31, 2016.
HUL's EBITDA margin dropped by 70 basis points, or 5%. In a regulatory filing the company said that during the quarter, the squeeze in liquidity resulted in reduced trade pipelines and lower consumer offtakes. The impact was varied across segments, channels and geographies.
Cost of goods sold was higher by 60 bps due to rising input costs. Commenting on the quarterly results, Harish Manwani, Chairman, said, "The gradual recovery of the market was temporarily impacted by adverse liquidity conditions. There are early signs of normalisation and our focus continues to remain on innovation led volume growth and improvement in margins."
Moreover, the company also announced the appointment of Dev Bajpai as Director on the Board of the Company.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How soon will monthly SIP of Rs 6,000, Rs 8,000, and Rs 10,000 reach Rs 5 crore corpus target?
SBI Guaranteed Return Scheme: Know how much maturity amount you will get on Rs 2 lakh, 2.5 lakh, 3 lakh, 3.5 lakh and Rs 4 lakh investments under Amrit Vrishti FD scheme
SBI Senior Citizen FD Rate: Here's what State Bank of India giving on 1-year, 3-year, 5-year fixed deposits currently
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
04:09 PM IST