Hindustan Unilever reports 4% y-o-y growth in net profit at Rs 2,717 crore

20 Oct 2023 , 09:47 AM

Hindustan Unilever Ltd (HUL) announced a 4% y-o-y increase in standalone net profit for the quarter ended September 2023, totaling Rs 2,717 crore. In the previous quarter, the amount stood at Rs 2,616 crore.

In the reporting quarter, the company’s revenues increased 4% year on year (YoY) to Rs 15,027 crore. The profit was higher than the projection of Rs 2,590 crore, although revenue was somewhat lower.

In addition, the board declared an interim dividend of Rs 18 per equity share for the fiscal year ending 2024. The record date for the aforementioned dividend is November 2.

In the September quarter, the underlying volume increase was 2%.

However, EBITDA of Rs 3,694 crore and margins of 24.18% were reported by the company.

The home care industry rose 3%, with volume growth in the mid-single digits. Fabric wash had a mid-single-digit volume increase within this market, with the premium portfolio continuing to excel. Household care volumes increased in the upper single digits, headed by the dishwasher.

The beauty and personal care business grew by 4% in the second quarter, with volume increase in the mid-single digits. Volume increase in skin cleaning was in the low single digits, with Lux and Hamam continuing to dominate.

Revenue decreased as soap prices were reduced further. Skin care and colour cosmetics increased by double digits, owing to targeted efforts in future demand areas and channels.

 

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