(Reuters) -Consumer firm Hindustan Unilever said it will buy a majority stake in the 'Minimalist' skin care brand and reported a marginal rise in third-quarter profit on Wednesday, lifted by festive season demand and an ongoing recovery in rural markets.

Hindustan Unilever Ltd.'s third-quarter profit rose 18.9% year-on-year, beating analysts' estimates. The consolidated net profit of India's largest consumer goods maker rose to Rs 2,984 crore in the quarter-ended December, according to an exchange filing. That compares with the Rs 2,659-crore consensus estimate of analysts tracked by Bloomberg.

Hindustan Unilever Ltd. posted quarterly profit that beat estimates boosted by one-time gains even as the consumer goods giant faces a consumption slowdown in the world’s most-populous nation.

Indian consumer firm Hindustan Unilever reported a marginal rise in third-quarter profit on Wednesday, lifted by festive season demand and an ongoing recovery in rural markets.