HUL beats street, Q1 net rises 14% to Rs 2,391 cr
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, said Sanjiv Mehta, CEO and MD, HUL
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New Delhi: FMCG major Hindustan Unilever Ltd (HUL) on Tuesday reported an increase of 13.85 per cent in its consolidated net profit to Rs 2,391 crore for the first quarter ended June 2022. Its profit after tax (PAT) rose 11.06 per cent (y-o-y) to Rs2,289cr as against analysts' projection of Rs2,185cr.
The company had posted a net profit of Rs2,100 crore in the April-June quarter of the previous fiscal. The total income was up 20.36 per cent during the quarter under review at Rs 14,757 crore. It stood at Rs12,260 crore in the corresponding period a year ago, Hindustan Unilever said in a regulatory filing.
Total expenses were higher 20.79 per cent at Rs11,531 crore as compared to Rs9,546 crore in the first quarter of last fiscal.
"In an environment which remains challenging, marked by unprecedented inflation and consequential impact on consumption, we have delivered yet another quarter of robust topline and bottom-line performance," said Sanjiv Mehta, CEO and MD, HUL.
The company grew competitively whilst protecting its business model by maintaining margins in a healthy range, he added. 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 said.
