Hindustan Unilever Ltd., which makes daily use goods like oil, soap. (Hinsutan Unilever) is going to increase the price of skin cleansing product by 2.5 percent.
New Delhi. Hindustan Unilever Ltd., which makes daily use goods like oil, soap. (Hinsutan Unilever) is going to increase the price of skin cleansing product by 2.5 percent. In view of the increase in cost, the company has taken this step. HUL Chief Finance Officer Srinivas Pathak said that this is the second time that the company is increasing the prices of these products. Earlier, in December 2020, the prices of these products were increased by 2.5 percent.
Pathak said in a conference call after the financial results on Wednesday, “Prices for skin cleansing products were increased by 2.5 percent in the December quarter. We are now increasing the price by 2.5 percent.
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Lux and Lifebuoy is also included -HUL is a leader in skin cleansing products. Products in this category include Lux and Lifebuoy. The company has taken this step due to increase in cost. Pathak, who served as executive vice president at Unilever’s London-based headquarters, said the cost effect is around 7 to 9 percent. Although the company has increased by only 5 percent overall.
Hindustan Unilever (HUL) consolidated net profit for the third quarter ended December 2020 of the current financial year increased by 18.8 percent to Rs 1,938 crore. In the same quarter of the previous financial year, the company made a net profit of Rs 1,631 crore. The company said that its sales during the quarter increased by 20.26 percent to Rs 11,969 crore, compared to Rs 9,953 crore in the same quarter of the previous fiscal. Total expenses of the company also increased by 21.65 percent to Rs 9,548 crore during the quarter, from Rs 7,849 crore in the same quarter of the previous financial year.
