Hindustan Unilever reports a net profit of Rs 2,009 crore for the second quarter of FY 2021 ended on September 30. Q2 EBITDA comes in at Rs 2,869 crore net profit rises 8.7% on a year-on-year basis, revenue up 16.1% YoY while Home care business revenue falls 1.6% YoY but EBIT & margin rises 1% YoY. Q2 foods & refreshment segment see a stellar rise on all fronts with EBIT rising 90% on a yearly basis, revenue up 83%.
The Managing Director and Chairman, Sanjiv Mehta said that the company has recovered from the COVID-19 effect and now they are working at the same pace that they were working in the pre-COVID period. “The operations and service levels are now back to pre-COVID levels and we have accelerated the pace of digitizing operations under the ‘Re-imagine HUL’ agenda,” he said.
Mr. Mehta believes that the worst period has passed and the demand will increase in the upcoming time “Rural markets have been resilient but the demand in urban India, especially in metropolitan cities, has been muted. We believe that the worst is behind us and we are cautiously optimistic on-demand recovery,” he said.
“Strong savings funnel, judicious, and calibrated pricing in Tea, synergies in nutrition have enabled to successfully manage headwinds of commodity inflation and adverse mix. We have significantly increased investments behind brands and spends continues to be competitive,” HUL said.
Ahmedabad Plane Crash