FMCG major Hindustan Unilever Ltd (HUL) on Tuesday posted an increase of 13.85 per cent in its consolidated net profit to Rs 2,391 crore for the first quarter ended June 2022, thus beating analysts’ estimate of Rs 2,191.3 crore. The company had logged a net profit of Rs 2,100 crore in the April-June quarter of the previous financial year, the PTI reported.
Accordiing to the regulatory filing, the total income was up 20.36 per cent during the quarter under review at Rs 14,757 crore. It stood at Rs 12,260 crore in the corresponding period a year ago, HUL said.
The FMCG compnay’s total expenses were higher 20.79 per cent at Rs 11,531 crore as compared to Rs 9,546 crore in the first quarter of last financial year.
Sanjiv Mehta, chief executive officer and managing director, HUL, said, “In an environment which remains challenging, marked by unprecedented inflation and consequential impact on consumption, we have delivered yet another quarter of robust top line and bottom line performance.”
The company grew competitively whilst protecting its business model by maintaining margins in a healthy range, Mehta said.
On the outlook, he said, “While there are near-term concerns around inflation, the recent softening of commodities, forecast of a normal monsoon, and monetary/ fiscal measures taken by the government augur well for the industry”.
“We are confident of the medium to long term prospects of the Indian FMCG sector and remain focused on delivering a consistent, competitive, profitable and responsible growth,” he added.
Home Care segment of HUL delivered 30 per cent growth driven by strong performance in fabric wash and household care. Both categories grew in high double-digits with all parts of the portfolio performing well, the company said.
HUL said that in the first quarter of this financial year, its home care segment delivered 30 per cent growth driven by strong performance in fabric wash and household care, with both categories growing in high double-digits.
On Tuesday, shares of HUL ended at Rs 2,566 on the BSE, up 0.52 per cent from the previous close.