Hindustan Unilever Ltd., which manufactures goods of Daily Needs like oil, soap. (HUL Stock Price) will increase the price of skin cleansing product by 2.5 percent.
Your LUX-Lifebuoy has become more expensive now. Actually, Hindustan Unilever Ltd., which manufactures goods of Daily Needs like oil, soap. (HUL Stock Price) will 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 CFO Srinivas Pathak said that this is the second time the company is increasing the prices of these products. Earlier, the prices of these products were increased by 2.5 percent in December 2020. After the financial results, Pathak said in a conference call, “The prices of skin cleansing products were increased by 2.5 percent in the December quarter. We are now increasing its price by 2.5 percent…. ”
Lux new rates
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 is going to Unilever’s London-based headquarters as executive vice president, said the cost effect is around 7 to 9 percent. Although the company has increased by only 5 percent overall.
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Net profit hike by 18 percent
Hindustan Unilever (HUL), the flagship company of the FMCG sector, reported a consolidated net profit of 18.9 per cent at Rs 1,938 crore for the third quarter ended December 2020 of the current financial year. In the same quarter of the previous financial year, the company made a net profit of Rs 1,631 crore.
HUL Financial results
In a communication sent to the stock exchanges, the company said that its sales during the quarter increased by 20.26 per cent to Rs 11,969 crore, compared to Rs 9,953 crore in the same quarter earlier. HUL’s CMD Sanjeev Mehta said that the company’s total expenditure during the quarter also grew by 21.65 percent to Rs 9,548 crore as compared to Rs 7,849 crore in the same quarter earlier.
Emami’s profit also increased
Meanwhile, FMCG Emami Limited reported a 44.67 percent increase in its integrated net profit to Rs 208.96 crore in the December quarter of 2020. The company earned profit after tax of Rs 144.44 crore in the same quarter of 1 year ago. Emami told BSE that the company’s operating income grew 14.89 percent to Rs 933.61 crore in the quarter under review, from Rs 812.64 crore in the same period a year ago.
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