FMCG major Hindustan Unilever (HUL) on Friday announced 22 per cent year-on-year (yoy) fall in its net profit figures to Rs 971.40 crore for the quarter ended December 31, 2015. The company earned Rs 1252.17 crore in the corresponding quarter a year ago.
Total Income of the company increased from Rs 7,894.39 crore for the quarter ended December 2014 to Rs 8,120.60 crore for the quarter ended December 2015.
The board of directors also approved, a Scheme of Arrangement which envisages the transfer of the entire balance of Rs 2187.33 crore standing to the credit of the General Reserve to the profit and loss account.
“The growth in the quarter continued to be impacted by the phasing out of Excise Duty incentives and price de-growth, as the benefit of lower commodity costs was passed on to consumers,” the company said in a BSE filing.
The growth in personal products segment was impacted by the delayed winter and the one-time realignment of channel spends undertaken with a view to driving its effectiveness in the marketplace.
Shares of the company were trading 3.24 per cent down at Rs 799.70 at 2.58 pm.