Detailed results are yet to follow.
Faced with difficult market conditions and a slowdown in turnover growth HLL had announced at an analyst meet earlier that it is looking to reduce its number of brands from 110 plus to 30 in the next few years. The other odd 80 brands ate away at its profits. Added to that the company had identified 4 new product segments for giving an impetus to its turnover growth. These include over the counter healthcare products, water, confectionery and business through the internet. In a related development the company has decided to merge International Bestfoods and Aviance with itself.