HUL Q3 results: Net profit beats estimates, royalty to parent bumped up

FMCG major cautiously optimistic on commodity prices in the near term

Hindustan Unilever (HUL), one of India’s largest fast-moving consumer goods (FMCG) companies, on Thursday reported a 7.7 per cent rise in net profit during the October-December quarter of 2022-23, beating Street estimates. Its board of directors also approved a new royalty agreement with parent Unilever, subject to appropriate regulatory clearances.

With 5 per cent volume growth, the company’s net profit rose to Rs 2,474.0 crore from Rs 2,297.0 crore in the same quarter a year ago. Its revenue grew 16 per cent to Rs 15,343.0 crore from Rs 13,223.0 crore. Bloomberg estimates had pegged HUL’s revenue during the quarter at Rs