HUL Q1 net profit grows 8% to Rs 2,472 crore

Hindustan Unilever Ltd. (HUL) reported first-quarter standalone net profit grew 8% year-on-year to ₹2,472 crore on underlying sales growth of 7% and underlying volume growth (UVG) of 3%.

Sales revenue for the quarter ended June 30 grew 6.52% to ₹14,931 crore (YoY).

Rohit Jawa, CEO and Managing Director, HUL said “FMCG markets are recovering gradually although the operating environment remains challenging. In this context we have delivered a resilient and competitive performance whilst stepping up our EBITDA margin.”

He said in the near-term the FMCG industry would continue to witness rebalancing of price-volume growth equation and a gradual recovery in consumer demand.

“In this environment we will continue to provide superior value to our consumers and invest behind our brands. We remain focused on driving our long-term strategic priorities including market development and building distinctive capabilities for the future,” he said.

“I am confident of the medium to long term prospects of the Indian FMCG sector and HUL’s ability to deliver a Consistent, Competitive, Profitable and Responsible growth,” he added.

Mr. Jawa, who took over the leadership position of the company recently, said he would continue to execute the existing winning strategies and respond to the evolving market challenges.

During the quarter, the company’s Home Care business delivered 10% revenue growth and mid-single digit UVG. The Beauty & Personal Care segment delivered 4% revenue growth with mid-single digit UVG.

Foods and Refreshment segment saw revenue growth 5% with near-flat UVG.