Hindustan Unilever profit drops by 22% in third quarter | business | Hindustan Times
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Hindustan Unilever profit drops by 22% in third quarter

business Updated: Jan 15, 2016 16:14 IST
Reuters
Hindustan Unilever Ltd

HUL had to cut prices on key products in recent months consumer expenses shrunk after a weak monsoon and rising food prices.(HUL Facebook)

India’s largest consumer goods firm, Hindustan Unilever Ltd, said on Friday its profit slumped 22%, missing analysts’ estimates, as weak demand in rural India continued to hurt sales.

The Indian unit of Anglo-Dutch consumer group Unilever reported October-December earnings of Rs 9.71 billion, well below the Rs 12.52 billion posted during the same period a year ago. Analysts polled by Thomson Reuters had expected Rs 10.56 billion.

HUL, which is seen as a barometer of Indian consumer sentiment, has been forced to cut prices on key products in recent months, as households have been squeezed because of a weak monsoon and rising food prices.

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