New Delhi: FMCG wholesaler Hindustan Unilever Ltd on Tuesday reported a 13.85 percent increase in its consolidated net profit to Rs 2,391 crore for the first quarter ended June 2022. The company had posted a net profit of Rs 2,100 crore in the April-April period. June quarter of the previous fiscal year.
Total income increased by 20.36 percent during the assessed quarter at Rs 14,757 crore. It stood at Rs 12,260 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing. Total expenses were 20.79 percent higher at Rs 11,531 crore compared to Rs 9,546 crore in the first quarter of the last fiscal year.
“In an environment that remains challenging, characterized by unprecedented inflation and the consequent impact on consumption, we delivered another quarter of robust top-line and bottom-line performance,” said HUL CEO and Managing Director Sanjiv Mehta. The company grew competitively while protecting its business model by keeping margins in a healthy range, he added.
On the outlook, he said: “While there are short-term inflation concerns, the recent weakening of commodities, the forecast of a normal monsoon and government monetary/fiscal measures bode well for the industry”. “We are confident in the medium to long-term outlook for the Indian FMCG industry and remain focused on delivering consistent, competitive, profitable and responsible growth,” he said.
HUL said the home care segment grew 30 percent in the first quarter of this fiscal year, driven by strong performance in fabric laundering and home care, with both categories growing at a high double-digit rate. Shares of HUL on Tuesday settled at Rs 2,566 on BSE, up 0.52 percent from the previous close.
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