New Delhi [India], Oct 14 (ANI
major Hindustan Unilever
has projected weak sales numbers for the third quarter owing rising input costs and consequent jump in skincare product prices.
A post-result presentation by the company cautioned that there could be one more quarter of weak results for India's largest consumer goods company.
The analysts expect a muted volume growth of three percent for the ongoing quarter with an extension of the tepid growth in last 14 quarters with mid-single-digit numbers.
The performance over these past quarters looked particularly interesting as Unilever increased its stake in Indian arm to over 67 percent through an open offer.
The stake increase by the parent was seen as a major bet on the India
story by the UK
-based parent, though there were concerns over higher royalty payments and tax increases, which analysts said could weigh on earnings growth for at least two years since. (ANI