Shares of Hindustan Unilever (HUL) fell as much as 4.3% on Friday, as a deal to pay its UK parent higher royalty fees took the shine off a bigger-than-expected rise in quarterly profit
The company had posted a net profit of Rs 2,300 crore in the October-December quarter of the previous fiscal
Deal valuation pegged between Rs 1,000-1,500 crore
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FMCG firms Hindustan Unilever Ltd and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent amid palm oil and other raw materials turning relatively cheaper. HUL has reduced prices of its offerings under popular soap brands Lifebuoy and Lux by 5 to 11 per cent in the western region. Godrej Group arm GCPL, which owns soap brand Godrej No 1, has also reduced prices of soaps by 13 to 15 per cent. Analysts opine that the reduction in prices would help drive growth in volumes in the second half of current fiscal year, especially since overall demand remains sluggish due to high inflation. One of the reasons for the price reduction is the decline in global prices of palm oil and other raw materials, they added. Commenting on the development, GCPL CFO Sameer Shah said:" With commodity prices coming down, GCPL is one of the first FMCG companies to pass on the price reduction benefit to consumers." "For soaps specifically, GCPL has reduced prices be
In the past six months, the stock has rallied nearly 40 per cent, as against 0.34 per cent decline in the S&P BSE Sensex.
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Overall volume growth, the performance of the nutrition business and the movement in advertisement and promotion spend along with other expense are among key trackable for the quarter under review
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Both the countries reported a decline in sales in the March quarter
Companies with higher exposure to food and daily essentials, analysts say, are expected to fare better this quarter as compared to those with a skew towards discretionary consumption
All these stocks' fortunes are linked to domestic consumption, rather than global growth.
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