(Bloomberg) -- Hindustan Unilever Ltd., the Indian arm of the global consumer goods titan, posted quarterly profit in line with market estimates, boosted by a broad recovery as the local economy emerged from a calamitous second Covid-19 wave.

Net income for the Mumbai-based unit of Unilever Plc. rose 9% to 21.9 billion rupees ($291 million) in the quarter ended Sept. 30, according to an exchange filing Tuesday. That nearly matched the average 22 billion rupees forecast by analysts in a survey by Bloomberg. Revenue advanced 11% from the year-ago period to 125.2 billion rupees.

The maker of Dove soap and Lipton tea has benefited from a rebounding economy and pent-up consumer demand as lockdown-weary Indians finally started stepping out in the past few months. Daily Covid infections also slipped to less than one-tenth of the fresh cases reported in early-May. Restrictions on movement have largely been eased across the country, helped by a vaccination drive that has gained momentum in recent months.

The upbeat earnings also underscore Hindustan Unilever’s ability to manage costs as it faced a steep and sustained increase in raw material prices. Total costs rose 12% to 98.8 billion rupees.

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