Unilever Q3 net up 19.18% to Rs 2.8K cr

FMCG major Hindustan Unilever Ltd on Wednesday reported a 19.18 per cent rise in consolidated net profit at Rs 2,989 crore in the December quarter, boosted by the sale of its ‘Pureit’ business.

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The company, which posted a consolidated net profit of Rs 2,508 crore in the same quarter of the last fiscal year, said it will acquire 90.5 per cent shareholding of Uprising Science Pvt Ltd — the firm behind the premium beauty brand Minimalist — comprising secondary buyout for a cash consideration of Rs 2,670 crore at a pre-money enterprise valuation of Rs 2,955 crore.

HUL further said its board has approved the demerger of its ice cream business into Kwality Wall’s (India) Ltd.