HUL’s Q4 net flat amid sluggish sales

I am optimistic of consumer demand gradually improving due to a normal monsoon and better macro-economic indicators - Rohit Jawa, CEO & MD, HUL

New Delhi: FMCG major Hindustan Unilever Ltd (HUL) on Wednesday reported a 1.53 per cent decline in consolidated net profit to Rs2,561 crore for the fourth quarter of FY24 on account of deflation due to softening of commodity prices. The company had posted a net profit of Rs2,601 crore in the year-ago period, according to a regulatory filing from HUL.

Net sales of Hindustan Unilever were almost flat to Rs15,013 crore in the March quarter. While HUL’s total expenses were up 1.15 per cent to Rs12,100 crore in the March quarter from Rs 11,962 crore a year ago. The total income of HUL during the fourth quarter of the previous fiscal was flat at Rs15,441 crore as against Rs15,375 crore a year ago.

HUL CEO and Managing Director Rohit Jawa the company has delivered a “resilient performance” in FY24. “We remain focused on driving operational excellence and have continued to build back our gross margins while stepping up investment in brands and long-term capabilities. Looking forward, I am optimistic of consumer demand gradually improving due to a normal monsoon and better macro-economic indicators,” he said. Shares of the company ended 0.16 per cent down at Rs 2,259.15 apiece on the BSE.

“HUL delivered a resilient performance in Q4 with underlying sales growth of 1 per cent, underlying volume growth (UVG) of 2 per cent and EBITDA margin at 23.4 per cent,” HUL said in its earning statement.