Fast moving consumer goods (FMCG) major Hindustan Unilever Ltd on Friday reported a 22.19 per cent rise in its consolidated net profit at Rs 2,670 crore for the second quarter ended September 30, mainly helped by volume growth.
The company had posted a net profit of Rs 2,185 crore in the July-September quarter of the previous financial year. Its total income grew 16.44 per cent to Rs 15,253 crore during the quarter under review. Hindustan Unilever Limited (HUL) said in a regulatory filing that it stood at Rs 13,099 crore in the year-ago period.
The company reported “implied volume growth of 4 percent” during the July-September quarter.
“The business was well ahead of the growth market with more than 75 per cent of the market share in winning value and volumes,” HUL said in its earnings statement.
Its total expenditure grew 18.12 per cent to Rs 11,965 crore as compared to Rs 10,129 crore in the second quarter of the previous fiscal.
Sanjiv Mehta, CEO and Managing Director, HUL said: “Building on our strong momentum, we have delivered another quarter of solid all-round performance. In the first half of 2022-23, we have added an incremental business of over Rs 4,000 crore. Ours Consistent performance reflects our strategic clarity, the strength of our brands, operational excellence and dynamic financial management.”
He said the demand environment remains challenging as inflation is affecting consumption.
“However, with moderation in some commodities and monetary/fiscal measures taken by the government, we are cautiously optimistic in the near term. In this scenario, we will manage our business with agility, and while maintaining our margins Will continue to grow our consumer franchise in a healthy range,” he said.
He said HUL is confident of the medium to long term potential of the Indian FMCG sector and HUL’s ability to deliver sustained, competitive, profitable and responsible growth.
HUL shares closed at Rs 2,655.05 on the BSE on Friday, up 2.11 per cent from the previous close.
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