Hindustan Unilever Ltd Q1 net profit rises 14% to Rs 2,391 crore

Major FMCG Hindustan Unilever Ltd on Tuesday announced a 13.85% increase in its consolidated net profit to Rs 2,391 crore for the first quarter ended June 2022.

The company had recorded a net profit of Rs 2,100 crore in the April-June quarter of the previous financial year.

Total revenue increased by 20.36% in the quarter under review to Rs 14,757 crore. It stood at Rs 12,260 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.

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Total expenditure increased by 20.79% to Rs 11,531 crore from Rs 9,546 crore in the first quarter of the previous fiscal year.

“In an environment that remains difficult, marked by unprecedented inflation and a consequent impact on consumption, we delivered another quarter of solid performance in terms of turnover and results”, said the CEO and Managing Director by HUL, Sanjiv Mehta.

The company has grown competitively while protecting its business model by keeping margins within a healthy range, he added.

Regarding the outlook, he said, “while there are near-term concerns about inflation, the recent softness in commodities, the expectation of a normal monsoon and monetary/fiscal measures taken by the government bodes well for the industry.”

“We are confident in the medium to long-term prospects for India’s FMCG sector and remain focused on consistent, competitive, profitable and responsible growth,” he said.

HUL said in the first quarter of this fiscal year, its home care segment grew 30% on strong performance in fabric washing and housekeeping, with both categories posting double-digit growth. high.

HUL shares settled at Rs 2,566 on BSE on Tuesday, up 0.52% from the previous close