HUL reports a 6% decline in Q4 net profit to Rs 2,406 crore and announces a Rs 24 dividend per share
The massive fast-moving consumer goods (FMCG) company Hindustan Unilever Ltd. (HUL) said on Wednesday that its net profit for the January–March quarter dropped by 6% to Rs. 2,406 crore from Rs. 2,552 crore during the same time the year before.
In the fourth quarter, HUL’s sales increased slightly to Rs 14,693 crore, despite a 2.7% decline in income from the beauty and personal care sectors.
The business said that equity shares with a face value of Re 1 would receive a final dividend of Rs 24 per share for 2023–2024. On November 16, 2023, the business had previously distributed an interim dividend of Rs 18 per share. As of right now, the total dividend for the fiscal year amounts to Rs 42 for each equity share with a face value of Re 1.
Prior to the release of its findings after market hours, HUL shares closed 0.1% down.
“In FY24, we delivered a resilient performance with 3% USG and crossed the Rs 10,000 crores net profit mark,” said HUL CEO and Managing Director Rohit Jawa. Going ahead, I think that a regular monsoon and improved macroeconomic data will lead to a progressive improvement in consumer demand.
