HUL Q3: Cut in expenditure helped overset rupee depreciation, price rise, says Sharekhan
Kaustubh Pawasakar, Research Analyst - FMCG/ Hotels at Sharekhan said that HUL Q3 performance has been better than street expectation with 16.4 per cent rise in topline growth as per expectation and a good volume growth of 9.9 per cent. He further said that Q3 saw a gross margins decline largely on account of higher raw material costs and rupee depreciation. "But lower ad spend and other expenditure helped operating numbers," he added.
