In response to HUL Chief Monetary Officer Srinivas Phatak, costs of palm oil within the final six months have gone up by 25 to 30 per cent.
“We might take the costs up within the cleaning soap a part of our portfolio. We might be seeking to value up between 5 to six per cent and they’d are available a phased method,” Phatak mentioned in a post-earnings convention name.
“We’re being considered and being calibrated,” he mentioned, including “for pores and skin cleaning, we’re taking on costs.”
Nonetheless, he added that HUL is watching costs of different commodities and meals costs proceed to be “risky”, whereas there was a transparent uptick in palm oil costs.
“We’ve additionally seen uptick (in) costs in dairy and we’re analyzing all these,” he mentioned, including that HUL would have a look at pricing appropriately whereas sustaining its “competitiveness”.
HUL on Friday reported a rise of 12.95 per cent in web revenue to Rs 1,631 crore for the December quarter, whereas web gross sales rose 3.87 per cent to Rs 9,953 crore.
HUL CMD Sanjiv Mehta mentioned:”This quarter witnessed an total difficult market setting, primarily reflecting a pointy slowdown in rural and discretionary spends.”
Phatak added that progress was reasonable over many quarters.
Nonetheless, he added that attributable to a number of measures taken, there could be “uptick sooner or later” however the present outlook stands “sluggish”.