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Witnessed strong growth in July-September quarter in the Indian market, says Unilever

The company said it has continued progress in line with strategic priorities and has achieved USG (Underlying sales growth) of 16.1% in India in Q3 of FY23

Anglo-Dutch FMCG major Unilever said that it has witnessed "strong growth" in the Indian market in the third quarter of FY23.

The company on Thursday said that it has continued progress in line with strategic priorities and has achieved USG (Underlying sales growth) of 16.1% in India in the July-September quarter, which is a priority market for the FMCG (fast moving consumer goods) major, as per a report by news agency PTI.

Besides, Unilever has achieved a USG of 8.6% in the US market, 1.1% from China and 13.3% from the emerging market, said Unilever's trading statement for Q3 of 2022, the report added.

Unilever's turnover for Q3 was at 15.8 billion euros and its USG accelerated to 10.6% in the quarter, as per PTI.

Its Asia Pacific Africa zone, under which India falls, reported a turnover of 7.1 billion euro, with underlying sales growing 12.5% driven by strong performances from home care and ice cream segments.

"India showed strong growth with double-digit pricing and positive volumes, supported by innovations and continued strength of its premium portfolio. China grew low single-digit as the market growth reflected some lockdown effects and remained more muted than in previous years," said Unilever.

Unilever's detergent brand Surf Excel is "driving high growth in India fabric cleaning" segment, it said.

Indonesia delivered price-driven, while Vietnam, the Philippines and Thailand delivered double-digit growth. Turkey posted another quarter of double-digit growth across all business groups, driven by both price and volume.

The Asia Pacific Africa zone contributed 45% of Unilever's turnover, while 'The Americas' contributed 35% and Europe 20%.

Chief Executive Officer Alan Jope said Unilever has delivered another quarter of growth in challenging macroeconomic conditions.

"We have delivered growth in each of our five business groups, led by a strong performance from our 'billion+ Euro' brands, growing 14% in the quarter. Strong pricing allows us to continue to drive increased investment behind our brands," he said.

Over the global macroeconomic outlook, Jope said it "remains mixed, and we expect the challenges of high inflation to persist in 2023".

The PTI report went on to add that, last week, Unilever's Indian subsidiary Hindustan Unilever had reported a 22.19% increase in its consolidated net profit to Rs 2,670 crore for the September quarter, mainly helped by volume growth and market gains.

HUL's total income increased 16.44% during the quarter under review to Rs 15,253 crore.

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