HUL profit rises 8.7% to Rs 2,009 crore in Q2 FY 21

On Tuesday, Hindustan Unilever (HUL), the FMCG giant, reported a profit of Rs 2,009 crore with an 8.7% increase in the second quarter of the current fiscal year

On Tuesday, Hindustan Unilever (HUL), the FMCG giant, reported a profit of Rs 2,009 crore with an 8.7% increase in the second quarter of the current fiscal year (Q2FY21). Compared to 2019 HUL’s profit stood at Rs 1,848 crore in the same period. Revenue from operations has increased by 16.1% to Rs 11,442 crore in Q2FY2. On a quarter-on-quarter basis, total revenue has increased by 8.3 per cent.

“Underlying domestic consumer business sales (excluding the impact of business combinations) grew by 3% in the September quarter,” the company said in its Bombay Stock Exchange filing.

The results are not comparable on a year on year basis as HUL had merged GlaxoSmithKline Consumer Healthcare India w.e.f April 2020.

An interim dividend of Rs 14 per share has been declared by the board. October 29, 2020, has been decided as the record date for determining the entitlement for payment of the interim dividend.

The quarter earnings before interest, tax, depreciation, and amortisation (EBITDA) came in at Rs 2,869 crore, up by 17% year on year basis.

The FMGC giant said, “Exceptional items throughout the September quarter 2020 were profit from the sale of surplus properties Rs 5 crore, acquisition and disposal related cost of Rs 17 crore and restructuring expenses of Rs 69 crore.”

The Chairman, and Managing Director of HUL, Sanjiv Mehta, said that the operations and service levels have rebounded to the ‘pre-Covid levels’ and the company has accelerated the pace of digitizing its operations under the ‘Re-imagine HUL’ agenda.

 

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