Hindustan Unilever hikes soap prices, posts 6% volume gain
Hindustan Unilever (HUL) is bumping up prices on daily essentials like Lux and Dove soaps by 2% to 5%, thanks to rising costs for things like packaging and ingredients, mostly due to global tensions in West Asia.
Even with these challenges, HUL just posted its strongest volume growth in 15 quarters, with a 6% jump in product demand.
HUL profits beat expectations at 2,994cr
The company's profits soared 21.3% to 2,994 crore rupees this quarter, beating expectations.
Home Care products are feeling the pinch from higher costs the most.
To keep shelves looking familiar while managing expenses, HUL is quietly tweaking how much goes into each pack.
Still, its CFO Niranjan Gupta says he's confident people will keep buying these everyday items since essentials don't really see big drops in demand.