Market value up, but volumes declining in India: Unilever CEO Alan Jope

Indian markets are growing in value, but volumes are declining, Unilever CEO Alan Jope told investors on Thursday after announcing its July-September quarter results. The consumption weakness is due to the impact of inflation, particularly in rural areas, he said.

Despite weakness in the market, Hindustan Unilever (HUL) registered a volume growth of 4 per cent during the July-September quarter (Q2), while its revenue increased 16.1 per cent to Rs 15,144 crore.

“We are confident of HUL’s ability to continue to grow ahead of the market and we see that reflecting in very strong market share performance,” Jope said.

In its earnings release,