Unilever's India unit beats Q3 revenue estimates on larger gross sales

BENGALURU – India’s Hindustan Unilever (HUL) reported a bigger-than-expected rise in quarterly revenue on Thursday, as larger gross sales helped make up for an increase in raw-material prices.

Revenue rose to 25.05 billion rupees ($307.97 million) for the third quarter ended Dec. 31, from 22.43 billion rupees a yr in the past, stated HUL, the India unit of Unilever.

Analysts on a median had anticipated a revenue of 24.76 billion rupees, in line with IBES knowledge from Refinitiv.

($1 = 81.3390 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru and Praveen Paramasivam in Chennai; Enhancing by Nivedita Bhattacharjee)