Hindustan Unilever profit rises 14 per cent
FMCG major Hindustan Unilever Ltd on Tuesday reported an increase of 13.85 per cent in its consolidated net profit at Rs 2,391 crore for the first quarter ended June. The company had posted a net profit of Rs 2,100 crore in the April-June quarter of the previous fiscal.
Total income was up 20.36 per cent during the quarter under review at Rs 14,757 crore. The number stood at Rs 12,260 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing. Total expenses were higher by 20.79 per cent at Rs 11,531 crore compared with Rs 9,546 crore in the first quarter of last fiscal. “In an environment which remains challenging, marked by unprecedented inflation and consequential impact on consumption, we have delivered yet another quarter of robust topline and bottom-line performance,” HUL CEO and managing director Sanjiv Mehta said.
The company grew competitively while protecting its business model by maintaining margins in a healthy range, he added. On the outlook, he said, “While there are near term concerns around inflation, the recent softening of commodities, forecast of a normal monsoon, and monetary/ fiscal measures taken by the government augur well for the industry.”
“We are confident of the medium to long term prospects of the Indian FMCG sector and remain focused on delivering a consistent, competitive, profitable, and responsible growth,” he said. HUL said in the first quarter of this fiscal, its home care segment delivered 30 per cent growth, driven by strong performance in fabric wash and household care, with both categories growing in high double-digits. Shares of HUL on Tuesday settled at Rs 2,566 on the BSE, up 0.52 per cent from the previous close.