Source: LiveMint.com, May 07, 2019
New Delhi: A consumption slowdown dampened sales in the March quarter at some of India’s largest consumer goods firms, as a slow offtake of goods in rural markets and an elongated winter forced companies to report moderate volume growth.
India’s largest FMCG firm Hindustan Unilever Ltd., biscuits maker Britannia Industries Ltd., along with Dabur India Ltd., Marico Ltd and Godrej Consumer Products Ltd., announced their fourth-quarter earnings earlier this month. After reporting strong volume growth over the past few quarters, the companies reported subdued numbers for January to March 2019.
Top executives at these firms acknowledged that a moderate rural demand, liquidity crisis in the market and the adverse impact of a delayed summer led to lower growth. Read the rest of this entry »