HUL bets on pick-up in rural demand

Growth in the quarter was led by uptick in volumes after disruption caused due to GST

Hindustan Unilever’s (HUL)’s September quarter numbers were better-than-expected. Adjusted for the goods and services tax (GST) accounting, revenues on a comparable basis were up 10 per cent year-on-year (y-o-y) at Rs 8,309 crore in the quarter. It was led by domestic volume growth of four per cent, against analysts’ estimates of three per cent. Price hikes undertaken in the previous quarters accounted for the rest. 

Growth recovered in latter half of the quarter on restocking following the disruption caused due to the implementation of the GST. Among businesses, the home care segment drove the overall revenue growth, up 13 per cent