HUL Q1 Revenue Increases By 6.9% To Rs. 2,556 Crore

Despite operating in a difficult climate, Hindustan Unilever Ltd. on Thursday announced a 6.9% increase in its consolidated profit after tax for the first quarter ended June 30, 2023, coming in at Rs 2,556 crore.

In the same quarter of the previous fiscal year, the business reported a consolidated net profit of Rs 2,391 crore, according to a regulatory filing by Hindustan Unilever Ltd.

Comparing the first quarter of this fiscal year to the same time last year, the consolidated total revenue was Rs 15,679 crore as opposed to Rs 14,757 crore.

 

According to the corporation, total costs increased to Rs 12,167 crore from Rs 11,531 crore in the same period last year.

 

“FMCG markets are progressively rebounding, but the business climate is still difficult. In this situation, we have produced a durable and competitive performance while increasing our EBITDA margin, according to a statement from Rohit Jawa, CEO and Managing Director of HUL.

 

HUL said that its home care business, which saw sales climb by 10% while that of beauty and personal care increased by 4%, continued to perform well.

 

Health food drinks and food solutions led the category’s consistent performance and growth of 5% in the foods and refreshments market.

 

According to Jawa, the forecast for the FMCG sector is “in the near-term, we will continue to witness rebalancing of price-volume growth equation and a gradual recovery in consumer demand.”

 

He said, “We will continue to provide our customers excellent value and support our brands in this climate. We continue to be committed to advancing our long-term strategic initiatives, which include market expansion and creating unique capabilities for the future.

 

Leo Puri has been reappointed as an independent director for a period of five years, from October 12, 2023, to October 11, 2028. HUL also announced the appointment of Neelam Dhawan (63), who will join its board of directors on August 1, 2023, for a term of five years.