The FMCG major Hindustan Unilever (HUL) spent Rs 1,209 crore on advertising and promotion in Q3 of FY23, up 1.34% from Rs 1,193 crore it spent in the corresponding quarter previous year.
HUL also saw an increase of 16.36% in its total income which stood at Rs 15,707 crore in the third quarter of fiscal year 2023. Last year, the total income of the FMCG player stood at Rs. 13,499 crore in the third quarter.
The total expenses of the FMCG giant were at Rs 12,225 crore in Q3 FY22 as against Rs 10,329 crore in the year-ago period.
Additionally, HUL also registered a Profit After Tax (PAT) of Rs 2,481 crore in Q3 of FY23, juxtaposed to Rs 2,300 crore it earned in the corresponding period of the previous year.
Moreover, the various segments- Home Care, Beauty and Personal Care and Foods and Refreshment, saw a 31.60%, 10.50% and 6.75% increase in their revenue in the quarter ended December 31, 2022.
The company also posted a rise of 16% in its total sales which stood at Rs 15,343 crores this year.
Commenting on the results, Sanjiv Mehta, CEO and MD, Hindustan Unilever, stated that the company has sustained its strong momentum and had yet another quarter of solid all-round performance.
"Our consistent performance is reflective of our strategic clarity, the strength of our brands, excellence in execution, and dynamic financial management," he added.
Looking forward, Mehta said, "We are cautiously optimistic in the near term and believe that the worst of inflation is behind us. This should aid in a gradual recovery of consumer demand".
"We remain focused on managing our business with agility and continue growing our consumer franchise whilst maintaining margins in a healthy range. We stay confident of the medium to the long-term potential of the Indian FMCG sector and HUL's ability to deliver consistent, competitive, profitable and responsible growth," he added.