Unilever Consumer Care’s Q3 profit plummets 48% as revenue declines

Unilever Consumer Care Ltd reported a steep 48 percent drop in profit in the July-September quarter of 2024. 

Its profit slipped to Tk 15.92 crore from the same quarter last year' Tk 31.16 crore.

Earnings per share (EPS) also fell sharply, down to Tk 8.26 from Tk 16.17 from last year, according to the company's disclosure on the Dhaka Stock Exchange (DSE) website. 

The company attributed the EPS decline primarily to a fall in revenue, alongside a lower one-time benefit previously derived from reassessing past liabilities. 

Additionally, a newly imposed technology and trademark royalty charge from Unilever's parent company further weighed on Q3 earnings, it added. 

However, Unilever Consumer Care noted that operational efficiency and an increase in net finance income helped soften the impact.

Net operating cash flow per share also saw a sharp decrease, reaching Tk 7.52 in the January-September quarter of 2024. 

Unilever Consumer Care, formerly known as GlaxoSmithKline Bangladesh, has served the Bangladesh market since 1974, primarily through popular health food brands like Horlicks, Boost, and GlucoMax D. 

Since merging with Unilever in 2018, the company has focused on addressing malnutrition in Bangladesh with accessible nutrition products, building on its strong market position within the health food drink category, as per its website. 

Shares of the company were up 1.46 percent to Tk 2,608 as of 1:06 pm today at the DSE.