Hindustan Unilever's (HUL) net profit rose 8.9% to Rs 1444 crore on 12.4% increase in net sales to Rs 9357 crore in Q3 December 2018 over Q3 December 2017. The result was announced after market hours yesterday, 17 January 2018.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 22% to Rs 2046 crore in Q3 December 2018 over Q3 December 2017. Prudent management of volatility in costs (crude and currency led) along with improved mix and operating leverage has driven margin improvement, the company said.
Sanjiv Mehta, chairman and managing director, said that that company has delivered another strong performance in the quarter, with double digit volume growth and improvement in margins. HUL's focus on strengthening the core and leading market development by tapping into emerging trends has been yielding results across categories. In the near term, demand is likely to be stable. The company will keep a close watch on the macro-economic environment and respond with agility. HUL remains focused on its strategic agenda of delivering consistent, competitive, profitable and responsible growth.
On a consolidated basis, Reliance Industries' (RIL) net profit increased 8.82% to Rs 10251 crore on 56.69% increase in net sales to Rs 156397 crore in Q3 December 2018 over Q3 December 2017. The result was announced after market hours yesterday, 17 January 2018.
Increase in revenue is primarily on account of higher price realizations and volumes for petrochemical and refining businesses along with continuing strong growth momentum in consumer businesses. Product prices for the refining and petrochemicals business increased in line with 10.4% higher average Brent crude oil price. The higher volumes in petrochemical business are on account of stabilization and ramp-up of new petrochemical facilities. Retail business and digital services business recorded an increase of 89% and 51% in revenue during the quarter compared to the corresponding quarter of the previous year.
Commenting on the results, chairman and managing director, Mukesh Ambani said in its new-age consumer businesses, RIL maintained robust growth momentum across retail and Jio platforms and the share of consumer businesses is steadily increasing its contribution to the overall profitability of the company. In wireless business, RIL's customer-centric offerings and strong ubiquitous network are helping to digitalise India at an unprecedented rate.
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