For the Jun-20 quarter, India’s largest FMCG player, Hindustan Unilever, reported 5.7% growth in net profits to Rs.1897 crore. This growth in profit numbers was achieved in the midst of an extremely tough quarter. However, the aggressive cost control measures as well as the low price of crude helped the company along the way.

The top line growth was lower than last year but it needs to be seen in the context of the overall pressure that Indian companies are seeing in the COVID-19 related lockdown. Net sales were up 3.7% at Rs.10,570 crore. While the top line has been lower than expected, the volume growth of HUL has been much better than expected in these times.

The CEO, Sanjiv Mehta admitted that the company was positioned to drive profitable growth in the coming quarters even if the macro situation remained uncertain. HUL has been seeing good traction in its foods and its hygiene products division in the last 6 months. This is expected to improve with businesses being opened up more aggressively.