Hindustan Unilever (HUL) says transition to GST had an impact on trade purchases in the early part of the quarter, but consumer sales remained stable. HUL’s net profit in the three months ended September rose 16.42% to Rs1,276 crore from Rs1,096 crore a year earlier, beating estimates. On a comparable basis, revenue at the country’s largest packaged consumer goods maker grew 6.5%; domestic consumer revenue grew 10%. HUL’s 20% increase in advertising and promotion spending is also being seen as a sign that the situation is improving. Home care (which includes detergents) revenue grew 13% and personal care (which includes soaps and skincare items) revenue by 8%.

Source: Mint October 25, 2017 10:46 UTC