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    HUL Q2 results: Net profit rises 9% to Rs 1,974 crore; Rs 14 per share dividend announced

    Synopsis

    Its revenue from sales of products came in at Rs 11,510 crore, up 15.19 per cent from Rs 10,223 crore a year ago.

    HUL Q2 results: Net profit up 8.6% at Rs 1,974 cr

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    Hindustan Unilever (HUL) on Tuesday reported an 8.6 per cent rise in consolidated net profit at Rs 1,974 crore for the quarter ended September.

    The company had reported a net profit of Rs 1,818 crore in the same quarter a year ago.

    Its revenue from sales of products came in at Rs 11,510 crore, up 15.19 per cent from Rs 10,223 crore a year ago.

    The board also declared an interim dividend of Rs 14 per share.

    “In the context of a challenging economic environment, our growth has been competitive and profitable. We continue to demonstrate execution prowess, agility, adaptability, resilience and passion of our people,” said CMD Sanjiv Mehta.

    Mehta said the company’s operations and service levels are now back to pre-Covid levels and they have accelerated the pace of digitizing the operations under the ‘re-imagine HUL’ agenda.

    “The economic outlook has improved given the various initiatives taken by the government and Reserve Bank of India. In our sector, rural markets have been resilient but the demand in urban India, especially in metropolitan cities has been muted. We believe that the worst is behind us and we are cautiously optimistic on demand recovery,” he added.

    HUL said its household care segment delivered strong performance across all segments led by continued penetration gains. While in fabric wash, they have reduced the prices to pass on benefits of lower commodity costs to consumers, the category consumption of laundry has been adversely impacted due to confined living.

    “Continued focus on driving market development has enabled us to grow our liquids and fabric sensations segments strongly,” the company said in a release.

    The company’s skin cleansing segment grew in double digits on back of a very strong performance in ‘Lifebuoy’ and a good delivery in ‘Lux’.

    Its hand sanitizers and handwash segments continued to gain penetration and have delivered robust growths. Its oral care grew in double digits with accelerated momentum in ‘Close Up’, while hair care also grew in double digits.

    “Our strong savings funnel, judicious and calibrated pricing in tea, synergies in nutrition have enabled us to successfully manage headwinds of commodity inflation and adverse mix,” HUL said in a release.

    “We have significantly increased our investments behind our brands and our spends continue to be competitive,” it added.

    At 2:46 pm, the stock was up 0.32 per cent at Rs 2,185.80, while the benchmark Sensex traded 0.30 per cent higher at 40,552.83.
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    5 Comments on this Story

    dastagiri devaragattu41 days ago
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    dastagiri devaragattu41 days ago
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    Kashif Gamer41 days ago
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