In the Q2 FY24 results, ITC and Nestle showcase robust sales and profit figures, while Hindustan Unilever Ltd (HUL) experiences a slight dip in quarterly profit. Both ITC and HUL acknowledge a slowdown in rural demand due to high inflation but anticipate a recovery in the festive season. HUL’s CEO, Rohit Jawa, remains cautiously optimistic about FMCG demand, citing potential recovery during the festive season. However, he emphasizes vigilance regarding global commodity prices and the impact of the monsoon on crop output. ITC notes subdued consumption demand, particularly in the value segment and rural markets. Nestle India reports a significant YoY surge in net profits.
FMCG Giants Report Mixed Q2 Results; ITC and Nestle Thrive, HUL Expects Rural Demand Recovery
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