Slowdown In Urban Is Temporary, Says HUL CEO Rohit Jawa

Rohit Jawa, the CEO of Hindustan Unilever (HUL), described the slump as "temporary" and expressed optimism that the urban market would soon rebound.

Jawa stated at an industry summit that "the Indian consumer sector's long-term prospects far outweigh the near-term weakness," and that "the slowdown in urban areas is temporary, just like it was in rural areas."

"India is Unilever's hub for talent, leadership, research and development, science and technology, and innovation," Jawa added about the 90-year history of HUL. In the upcoming four years, he predicted a significant unlock in several Asian market sectors, including China, Indonesia, and India.

"We will continue to build products that upgrade the quality of life and the price and value that suits the Indian pocket," Jawa added.

He observed that "The macro picture of the consumption story of consumer goods is that every consumer wants to spend on better quality of life". Therefore, he said the vital thing for HUL is" the most important thing for HUL.

“Market share, increasing the quality of the brand so that they are unmissable and keep investing in market development” are the company's top priorities, according to the CEO of HUL.

"The Indian market is at a turning point with rapid urbanisation, digitisation, and a growing appetite for high-quality products at affordable prices. Our vision is to stay deeply connected with consumers by offering products that resonate with their needs and values," Jawa continued.

Higher expenses along with a slowdown in the urban markets caused HUL's standalone net profit to decline 4 per cent to Rs 2,612 crore from Rs 2,717 crore during the same period last year.

The fast-moving consumer goods (FMCG) behemoth's overall operating revenue increased by about 1.5 per cent to Rs 15, 508 crore in Q2 FY 25 from Rs 15,276 crore in the same period last year.

HUL's September quarter expenses totalled Rs 12,581 crore, representing a 3.03 per cent year-over-year (YoY) increase.