Hindustan Unilever continued to increase the price of detergents and soaps in the last three months.- This was due to rising input/raw material costs like fuel and palm oil, which is eating into the company’s profits.
- Nestle India, Colgate Palmolive, Emami have taken up such pricing practices over the last two years.
Hindustan Unilever (HUL) — one of the largest FMCG companies in the country and the world — once again increased the price of its detergents and household care items in the December quarter of financial year 2022.
Moves like this have helped the company maintain its profit margins over the last seven quarters and increase its net profits too. The company, in the December quarter, reported a consolidated profit of ₹2,297. This is nearly ₹300 crore higher than the same quarter last year.
“Significant input cost inflation across fabric wash and household care; calibrated pricing actions continue,” the company added. A report by Edelweiss Securities noted that Hindustan Unilever has increased the price of detergents and soaps by 3-20%.
Even companies like Nestle India, Colgate Palmolive, Emami, Tata Consumer Products, Wipro Consumer Care have taken up such pricing practices over the last two years to overcome the inflation troubles.
Nestle India — maker of Kit Kat, Munch, BarOne, Nescafe and Maggie — has also increased the cost of products by 1-3%. Meanwhile, Marico has increased the price of Saffola refined oil by 50%.
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