Hindustan Unilever Limitedâ€™s adspend increased by 19% in the third quarter ending December 31, 2020. The company spent Rs 1,392 crore on advertising and promotions during the period, up 18.9% from Rs 1,171 crore in third quarter of the previous fiscal.
The adspend for the December quarter was 22% more than the previous quarter with the company spending Rs 1,144 crore in Q2FY21.
However, the adspend for nine months of FY21 remains 6% down from the previous fiscal. HUL spent Rs 3,336 crore during the nine months of the current fiscal, down 5.7% from Rs 3,538 crore in same period of the previous year.
Net profit of Indiaâ€™s largest consumer goods company rose 18.8% over the year earlier to Rs 1,938 crore in the quarter ended December, according to the exchange filing. Revenues climbed 20.5 per cent to Rs 12,235 crore.
The companyâ€™s volumes growth during the quarter stood at 4%, excluding the acquisition of GSK. The volume growth signals a recovery during the festival season as India continued to reopen the economy after imposing one of the world's harshest Covid-19 lockdowns.