At least 7 of India's largest companies, including RIL's retail arm and consumer bellwether Hindustan Unilever Ltd., have flagged softer consumption demand and a challenging operating environment
Hindustan Unilever (HUL) said in its conference call with analysts that it is gaining market share in the last three months, according to Nielsen (NielsenIQ) numbers
Company has been losing out in the soap segment, say analysts
Hindustan Unilever's chief financial officer, Ritesh Tiwari, also said while talking about advertising spend, that the company continued to invest competitively in its brands
The global consumer major also saw negative price impacts on its fabric cleaning business
Hein Schumacher, chief executive officer of Unilever, informed investors after its earnings report that they expect the volume growth for HUL to be in a similar range as witnessed in Oct-Dec qtr
The management also pointed out that India saw a gradual recovery in the market, with growth led by urban areas, while rural areas continued to remain subdued
Consumer goods industry has struggled for more than two years with soaring costs
In the Q1FY24 results announced last week, HUL reported a volume growth of 3 per cent
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Shares of Hindustan Unilever (HUL) fell as much as 4.3% on Friday, as a deal to pay its UK parent higher royalty fees took the shine off a bigger-than-expected rise in quarterly profit
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