Fast-moving consumer goods (FMCG) giant Hindustan Unilever Ltd on Friday announced a 22.19% rise in its consolidated net profit to Rs 2,670 crore for the second quarter ended September 30, mainly driven by growth volumes.
The company had recorded a net profit of Rs 2,185 crore in the July-September quarter of the previous financial year. Its total income rose by 16.44% in the quarter under review to Rs 15,253 crore. It was Rs 13,099 crore a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.
The company reported “underlying volume growth of 4%” in the July-September quarter.
“Growth was significantly ahead of the market, with more than 75% of the business gaining market share by value and volume,” HUL said in its earnings release.
Its total expenditure increased by 18.12% to Rs 11,965 crore from Rs 10,129 crore in the second quarter of last fiscal year.
HUL CEO and Managing Director Sanjiv Mehta said, “Building on our strong momentum, we delivered another quarter of strong overall performance. In the first half of 2022-23, we added additional revenue of more than Rs 4,000 crore. Our consistent performance reflects our strategic clarity, the strength of our brands, operational excellence and the dynamism of our financial management.”
The demand environment remains challenging, with inflation impacting consumption, he added.
“However, with the easing of some commodities and the monetary/fiscal measures taken by the government, we are cautiously optimistic in the short term. In this scenario, we will manage our business with agility and continue to develop our consumer franchise while keeping our margins in a healthy range,” he said.
HUL remains confident in the medium to long-term potential of India’s FMCG sector and in HUL’s ability to deliver consistent, competitive, profitable and responsible growth, he added.
On Friday, HUL shares settled at Rs 2,655.05 apiece on BSE, up 2.11% from the previous close.
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