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HUL Q2 Results: Net Profit Jumps 19.61% To Rs 2,616 Crore, Income Rises 15.8%, Dividend Declared

By: Mohammad Haris

News18.com

Last Updated: October 21, 2022, 17:31 IST

New Delhi, India

HUL declares an interim dividend of Rs 17 per equity share of face value of Re 1 each for the financial year 2022-23.

HUL declares an interim dividend of Rs 17 per equity share of face value of Re 1 each for the financial year 2022-23.

HUL's total income during July-September 2022 jumps 15.8 per cent to Rs 14,866 crore, against Rs 12,837 crore a year ago

HUL Q2 Results: Hindustan Unilever Ltd (HUL) on Friday reported a net profit of Rs 2,616 crore for the September 2022 quarter, a jump of 19.61 per cent as compared with Rs 2,187 crore in the year-ago period. The company’s total income during July-September 2022 jumped 15.8 per cent to Rs 14,866 crore, against Rs 12,837 crore a year ago.

HUL also declared an interim dividend of Rs 17 per equity share of a face value of Re 1 each for the financial year ending March 31, 2023. “As intimated vide our letter dated 7th October, 2022, the record date for the purpose of determining the entitlement of the shareholders for the interim dividend has been fixed as 2nd November, 2022, and dividend will be paid to the shareholders on or after November 17, 2022."

The company’s Ebitda (earnings before interest, tax, depreciation and amortisation) for the September 2022 quarter stood at Rs 3,479 crore, a jump of 8 percent as compared with Rs 3,226 crore a year ago.

HUL in a statement said it delivered strong performance in the quarter with turnover growth of 16 per cent and underlying volume growth of 4 per cent. Growth was significantly ahead of the market with more than 75 per cent of the business winning value and volume market shares.

Ebitda margin at 23.3 per cent remained healthy despite unprecedented inflationary headwinds. Profit after tax before exceptional items (PATbei) grew 9 per cent and profit after tax (PAT) jumped 20 per cent during the September 2022 quarter, the company said.

Sanjiv Mehta, CEO and managing director of HUL, said, “Building on our strong momentum we have delivered yet another quarter of solid all-round performance. In H1 2022-23 we have added an incremental turnover of more than Rs 4,000 crore. Our consistent performance is reflective of our strategic clarity, strength of our brands, operational excellence, and dynamic financial management."

He added that the company continues to make excellent progress on our ‘Reimagine HUL’ agenda launching two new digital brands, reaching the milestone of 1 million Shikhar outlets and our manufacturing site at Dapada becoming the first in India to be recognised as sustainability lighthouse by the World Economic Forum.

“Demand environment remains challenging with inflation impacting consumption. However, with softening 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, continue to grow our consumer franchise whilst maintaining our margins in a healthy range. We remain confident of the medium to long term potential of Indian FMCG sector and HUL’s ability to deliver a consistent, competitive, profitable and responsible growth," Mehta said.

HUL’s beauty & personal care in July-September 2022 grew 11 per cent, driven by outperformance in premium portfolio. Skin cleansing delivered strong double-digit growth led by beauty and premium brands viz. Lux, Dove and Pears. Hair care further strengthened its market leadership with strong broad-based performance.

HUL said its home care segment delivered 34 per cent growth with volumes growing in double digits. Both fabric wash and household care grew in high double-digits with all parts of the portfolio performing well. Liquid detergents and fabric sensations continued to outperform driven by effective market development actions.

In the HUL first quarter of FY23 ended June 2022, HUL had posted an increase of 13.85 per cent in its consolidated net profit to Rs 2,391 crore. Its total income stood at Rs 14,757 crore during the June 2022 quarter.

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    Shares of Hindustan Unilever Ltd (HUL) on Friday jumped 2.11 per cent, or Rs 54.95, to Rs 2,655 apiece on the BSE.

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    first published:October 21, 2022, 17:14 IST
    last updated:October 21, 2022, 17:31 IST