HUL shares fall over 3% post disappointing Q3
The FMCG major reported flat profit and sales at ₹2,519 crore and ₹14,928 crore, respectively, in Q3 FY24, dented by demand slowdown.
The FMCG major reported flat profit and sales at ₹2,519 crore and ₹14,928 crore, respectively, in Q3 FY24, dented by demand slowdown.
HUL’s 3Q results were in line with expectations; however, hikes in royalty and central service fees remained key concerns.
Growth was ahead of the market with more than 75% of the business winning market shares, says HUL.
HUL is expected to post double-digit growth in both profit and revenue on a yearly basis, but sequentially the top and bottom lines are likely to be muted due to inflation headwinds.
Chairman & MD Sanjiv Mehta says the company will ensure its general trade distributors get a fair ROI. In Q3 of FY22, HUL's volume growth was 2%.
Analysts expect HUL to witness 8-9% volume growth for the next one year