HUL Q1 Results: Net profit increases 8% to stand at Rs. 2,472 crore

Rohit Jawa, CEO and Managing Director, HUL said: ‘FMCG markets are recovering gradually although the operating environment remains challenging. In this context, we have delivered a resilient and competitive performance whilst stepping up our EBITDA margin.

Hindustan Unilever Limited posted an 8% net profit of Rs 2,472 crore on Thursday. The FMCG giant registered Rs 2,289 crore in net profits a year ago.

The total sales have come up to Rs 14,931 crore, a growth of 7% seen during the quarter.

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The firm’s standalone total income increased 6% to Rs 15,333 crore in Q1FY24 as against Rs 14,409 crore in Q1FY23.

Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter stood at Rs 3,521 crore growing by 8.6 per cent. The EBITDA margins have improved by 40 bps YoY to 23.6 per cent.

The maker of multiple FMCG products said that the home care division grew with 10 percent revenue growth. Beauty and personal care declined 4.4 percent with broad-based performance across categories.

Food and refreshments grew 4.6percent led by foods, coffee and health food drinks (HFD).

Rohit Jawa, CEO and Managing Director, HUL said: ‘FMCG markets are recovering gradually although the operating environment remains challenging. In this context, we have delivered a resilient and competitive performance whilst stepping up our EBITDA margin.

“In the near-term, FMCG industry will continue to witness rebalancing of price-volume growth equation and a gradual recovery in consumer demand. In this environment we will continue to provide superior value to our consumers and invest behind our brands. We remain focused on driving our long-term strategic priorities including market development and building distinctive capabilities for the future. I am confident of the medium to long term prospects of the Indian FMCG sector” he added.

The shares of HUL, registered a 1.13 percent growth to Rs 2,702 per share on Thursday on the BSE.