MUMBAI: Hindustan Unilever (HUL) reported 3.8% growth in net profit at Rs 2,717 crore in the second quarter ended September 30, 2023, compared to Rs 2,616 crore in the corresponding quarter last year. Revenue rose 2.4% from Rs 14,514 crore to Rs 15,027 crore during the period.
The underlying volume growth of 2% is lower than in the previous quarter. The EBITDA margin of 24.6% was an increase of 130 basis points year-on-year.
The company said there was a one-off benefit in the quarter due to the favorable resolution of previous indirect tax disputes, which benefited both sales and profits. Excluding this one-off event, underlying sales and volume growth, EBITDA margin and PAT (bei) growth would have been 3%, 2%, 23.8% and 7% respectively.
Rohit Jawasaid CEO and Managing Director
The underlying volume growth of 2% is lower than in the previous quarter. The EBITDA margin of 24.6% was an increase of 130 basis points year-on-year.
The company said there was a one-off benefit in the quarter due to the favorable resolution of previous indirect tax disputes, which benefited both sales and profits. Excluding this one-off event, underlying sales and volume growth, EBITDA margin and PAT (bei) growth would have been 3%, 2%, 23.8% and 7% respectively.
Rohit Jawasaid CEO and Managing Director
:
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“We delivered resilient and competitive growth while increasing our EBITDA margin in a challenging operating environment characterized by subdued rural demand and increased competitive intensity. Looking ahead, we remain cautiously optimistic.
FMCG demand is likely to recover gradually, with the tailwind of the upcoming festive season, continued service sector growth and government push for capital investment.
At the same time, we must be vigilant about volatile global commodity prices and the impact of the monsoon on crop production and reservoir levels. In this context, our focus is on providing superior value to our consumers, driving competitive volume growth and investing in our brands.”
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