HUL, Nestle margins slide on costs, slowing demand

Nestle India's margin fell to 16% from 18% last year, while HUL saw 30 bps dip to 23%

- Reuters

India's top consumer goods makers Hindustan Unilever (HUL) and Nestle India reported weaker fourth-quarter profits on Thursday, with HUL cutting its margin forecast amid high input costs and sluggish urban demand.

A surge in the cost of living and slow wage raises in India have eroded urban consumers' purchasing power, forcing them to cut back on buying packaged goods and pressuring earnings of consumer goods makers already reeling from high input costs.