Hindustan Unilever first quarter net profit rises 19% to ₹1,529 crore

FMCG major Hindustan Unilever on Monday reported a 19.17% increase in standalone net profit at ₹1,529 crore for the first quarter ended June 30, 2018.

The company had posted a net profit of ₹1,283 crore in the same period of the previous fiscal. Total income during the quarter under review stood at ₹9,622 crore, up 3.07% as against ₹9,335 crore in the corresponding quarter a year ago, Hindustan Unilever (HUL) said in a BSE filing.

However, the company said comparable domestic consumer growth, reflecting accounting impact of GST (excise duty and net input taxes adjusted from sales of base quarter, and GST refunds to the reported sales of current quarter), was 16% during the quarter.

“In the near term, we see gradual improvement in demand and our focus will continue to be on innovations and market development,” HUL chairman and managing director Sanjiv Mehta said. He further said, “Crude volatility and currency-led inflation are key risks going ahead and we will continue to manage our business dynamically while driving operational efficiencies.”

“Our strategic agenda remains one of delivering consistent, competitive, profitable and responsible growth,” he added.

During the quarter the company integrated its foods and refreshment divisions. HUL shares on Monday closed at ₹1,753.85, up 0.73%, on the BSE.

NEW DELHI:

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