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HUL slips ~2% on lackluster numbers in Q1FY24

21 Jul 2023 , 10:01 AM

Hindustan Unilever Limited (HUL) announced a standalone net profit of Rs 2,472 crore for the June quarter of FY24, an increase of 8% y-o-y from Rs 2,289 crore in the same period of the previous fiscal year. 

Moreover, the company’s net profit fell 10% on a sequential basis against Rs 2,552 crore in the previous quarter.

Following this development, the company’s counter fell about 2% to Rs 2,658 apiece in early morning trade. At around 9.50 AM, HUL was trading 1.62% lower at Rs 2,659.55, against the previous close of Rs 2,703.25 on NSE.

The company’s overall revenue is Rs 15,333 crore, up 6.4% from Rs 14,016 crore in the previous corresponding quarter, according to a regulatory filing. 

The company’s domestic volume increase was only 3%, far short of street estimates.

EBITDA stood at Rs 3,521 crore for the quarter, up 8.6% y-o-y. EBITDA margins have increased by 40 basis points year-on-year to 23.6%, demonstrating that profitability is solid even after price reduction and increasing advertising spends.

AdSpend to sales is 9.9% more than a year earlier, with gross margin savings reinvested for sales growth. The home care division climbed by 10% in revenue. Beauty and personal care fell 4.4%, despite a strong performance across all categories.

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Related Tags

  • Hindustan Unilever Limited
  • HUL
  • HUL June Results
  • HUL News
  • HUL Q1
  • HUL results
  • HUL Updates
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