HUL Sees Profits Soar 19% Driven by Strategic Moves

Hindustan Unilever Ltd reported a notable 19.18% increase in profit, largely due to the sale of its 'Pureit' business and strategic acquisitions including a major stake in 'Minimalist'. The company also announced the demerger of its ice cream business and highlighted competitive growth despite market challenges.

Hindustan Unilever Ltd (HUL) has announced a 19.18% rise in consolidated net profit for the December quarter, reaching Rs 2,989 crore. The substantial increase is attributed primarily to the divestment of its 'Pureit' business.

Additionally, HUL will acquire a 90.5% stake in Uprising Science Pvt Ltd, the parent company behind the premium beauty brand Minimalist, for Rs 2,670 crore. The acquisition aligns with HUL's strategy to expand in fast-growing market segments.

Furthermore, HUL's board has approved the demerger of the company's ice cream business into Kwality Wall's (India) Ltd. Shareholders will directly hold the new entity's equity, indicating confidence in robust, long-term growth prospects.

(With inputs from agencies.)