Hindustan Unilever Limited’s second quarter net profit declined 2 percent to Rs 2,591 crore.

Fast-growing consumer goods giant Hindustan Unilever Ltd (HUL) reported a 2 per cent decline in consolidated net profit at Rs 2,591 crore ($308.2 million) in the second quarter ended September 30 compared to Rs 2,591 crore ($308.2 million) in the year-ago quarter. Was Rs 2,668 crore.

The company’s revenue during the quarter increased marginally to Rs 15,926 crore from Rs 15,623 crore in the corresponding quarter of the previous financial year.

HUL’s personal care segment revenue fell 5 per cent due to negative pricing and low-single digit volume decline.

Commenting on the results, HUL Managing Director CEO Rohit Java said in a statement, “In the September quarter, FMCG demand in urban markets witnessed modest growth, while rural areas continued to see a gradual recovery. In this context, we performed competitively and profitably.

“We continue to eye a gradual improvement in consumer demand while building sustained competitive advantage through our business fundamentals of investing behind our aspirational brands, driving market-making innovations and maintaining operational rigor,” he said.

Hindustan Unilever is the country’s largest consumer goods company with a strong presence in the beauty and personal care sector.