HUL Q1 net profit rises 10% spurred by growth in core business


Hindustan Unilever Ltd. (HUL) said standalone net profit for the quarter ended June 30 grew 10% to ₹2,061 crore due to double-digit growth in core businesses.

Its focus on net revenue management and savings enabled it “to manage inflationary pressures and deliver a healthy bottom-line performance”, HUL said in a regulatory filing.

Revenue from sale of products rose 12.7% to ₹11,730 crore.

“In a challenging environment, we have delivered a strong performance across top line and bottom line,” said CMD Sanjiv Mehta. “Our performance has been resilient and is reflective of our capabilities, the agility in our operations and the intrinsic strength of our portfolio,” he added.

“Looking forward, we remain cautiously optimistic about the demand recovery. Our focus firmly remains behind delivering volume-led competitive growth and margins in a healthy range,” he added.

In the context of the second wave of COVID-19, HUL said it delivered a ‘strong’ performance with domestic consumer growth of 12% and underlying volume growth of 9%.

“The performance was broad based with all 3 divisions [Home Care, Beauty & Personal Care and Food & Refreshment] growing competitively and in double-digits,” said Ritesh Tiwari, executive director and CFO, HUL. “Our business fundamentals remain strong with a large part of our business gaining penetration,” he added.

He said the Home Care segment grew 12%, enabled by double-digit growth in fabric wash; Beauty & Personal Care climbed 13% led by hair-care and skin-care products, both growing in high double-digits. “Foods & Refreshment delivered another quarter of strong performance and grew at 12%,” he added.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.