HUL Q2FY23 PAT up 22.2% at Rs2,665cr on prior period tax credits

22 Oct 2022 , 11:05 AM

Hindustan Unilever reported 16.08% growth in total sales revenues for the September 2022 quarter on consolidated basis at Rs15,144cr. Revenue growth was 3.54% on sequential basis.

For the quarter, Hindustan Unilever saw the strongest growth in the home care segment at 34% while the growth in beauty / personal care and in food / refreshments was more subdued.

In terms of operating profits contribution, it was the beauty and personal care vertical whose contribution was almost twice that of the home care segment.

The underlying volume growth was 4% with 75% of the business verticals gaining on volumes and on market share. Home care reported double digit volume growth. Interim dividend was Rs17 per share, subject to shareholder approval.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 22.19% at Rs2,665cr on the back of improved operating performance and a tax credit of Rs260 crore from prior assessments, which boosted profits due to lower tax liability.

EBITDA margins at 23.3% were strong despite input cost inflation. HUL has also passed back some of the input cost savings to the end consumer. PAT margins improved to 17.60% in the Sep-22 quarter compared to 16.72% in the Jun-22 quarter.

Net margins were also better on a sequential basis compared to 16.28% in the June 2022 quarter.

Financial highlights for Sep-22 compared yoy and sequentially

	Hindustan Unilever
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 15,144	₹ 13,046	16.08%	₹ 14,626	3.54%
Operating Profit (Rs cr)	₹ 3,207	₹ 2,945	8.90%	₹ 3,121	2.76%
Net Profit (Rs cr)	₹ 2,665	₹ 2,181	22.19%	₹ 2,381	11.93%
Diluted EPS (Rs)	₹ 11.35	₹ 9.28		₹ 10.13
OPM	21.18%	22.57%		21.34%
Net Margins	17.60%	16.72%		16.28%