Q4 net for HUL declines by 1.53% to Rs 2,561 cr

Leading FMCG company Hindustan Unilever Ltd. (HUL) said on Wednesday that deflation brought on by a slowdown in commodity prices resulted in a 1.53% drop in consolidated net profit to Rs 2,561 crore for the fourth quarter of FY24. According to a HUL regulatory filing, the business reported a net profit of Rs 2,601 crore during the same time last year.

Hindustan Unilever’s net sales for the March quarter came in at Rs15,013 crore, almost unchanged. HUL’s overall costs increased 1.5% to Rs 12,100 crore in the March quarter from Rs 11,962 crore in the same period last year. HUL’s overall revenue during the fourth quarter of the previous fiscal year was Rs15,441 crore, unchanged from Rs15,375 crore the previous year.

According to HUL Managing Director and CEO Rohit Jawa, the business had a “resilient performance” in FY24. “We are still committed to achieving operational excellence, and we have been increasing our investments in long-term capabilities and brands, all while regaining our gross margins. A regular monsoon and improved macroeconomic indicators should lead to a gradual improvement in consumer demand, he said. On the BSE, the company’s shares closed 0.16 percent down at Rs 2,259.15 a share.

In its earnings announcement, HUL said that it “delivered a resilient performance in Q4 with underlying sales growth of 1%, underlying volume growth (UVG) of 2%, and EBITDA margin at 23.4%.”