THE WHAT?  Hindustan Unilever (HUL), the Indian arm of Unilever, reported its quarterly results, which fell short of market expectations.

THE DETAILS HUL’s quarterly profit increased by a modest 0.6% to 25.19 billion rupees ($303.30 million), missing analysts’ expectations, which were at 26.8 billion rupees according to LSEG data. The company’s sales also slightly declined to 149.28 billion rupees for the quarter, primarily affected by lower demand in its beauty and personal care business, which includes brands like Dove and Pears.

THE WHY? The delayed arrival of winter impacted demand for moisturizers and lotions, and competition increased in its home-care business as regional players re-entered the market, taking advantage of lower commodity prices. In response, HUL reduced prices on various products, including detergents and skin cleansers, while expecting continued intense competition in the sector.