HUL weathers pre-GST jitters, net up 9.3%

Volume growth flat due to stock clearance, but meets street expectations

The largest consumer goods company in the country, Hindustan Unilever (HUL), had a flat volume growth rate in the three months ended June, as trade including wholesalers and retailers cleared stocks in the run-up to the goods and services tax (GST) roll-out on July 1.

Most fast-moving consumer goods (FMCG) companies had indicated that the June quarter would be challenging because of the trade’s lack of preparedness for the new indirect tax regime. According to analysts, investors were interested to know how bad the performance would be — more so for HUL, considered a bellwether for the FMCG sector.

Street estimates had