HUL Q1 net profit rises to ₹2,100 cr

NEW DELHI: Fast moving consumer goods (FMCG) major Hindustan Unilever Ltd on Thursday reported a 10.7% increase in its consolidated net profit at ₹2,100 crore for the first quarter ended June, 2021 led by a volume-based growth despite challenging circumstances due to the second wave of the pandemic.

The company had posted a net profit of ₹1,897 crore in the

April-June quarter of the previous fiscal.

Net sales during the quarter under review stood at ₹11,966 crore, up 13.21%, as against ₹10,570 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.

“In a challenging context of Covid wave 2, HUL delivered a strong performance with domestic consumer growth of 12%, underlying volume growth of 9% and profit after tax growth of 10%,” HUL said in a post earning statement.

Performance was broad based with all three divisions— Home Care, Beauty & Personal Care and Foods & Refreshment —all growing competitively and in double-digits.

“Our business fundamentals remain strong with a large part of our business gaining penetration,” said HUL HUL’s total expenses was at ₹9,546 crore in the quarter under review, up 14.68% from ₹8,324 crore a year ago.

Commenting on the result,

HUL chairman and managing director Sanjiv Mehta said: “In a challenging environment, we have delivered a strong performance across topline and bottomline. Our performance in the quarter has been resilient and is reflective of our capabilities, the agility in our operations and the intrinsic strength of our portfolio.” During the quarter, HUL’s revenue from the homecare segment was up 11.94% to ₹3,797 crore, as against ₹3,392 crore in the corresponding quarter a year ago.