Hindustan Unilever (HUL) reported Rs 2243 crore in profit. According to the company’s regulatory filing on Thursday, its standalone net profit climbed by 12 percent to Rs 2505 crore in the December quarter (Q3FY23).
The FMCG behemoth’s standalone income from operations was Rs 15,228 crore, up 16 percent from Rs 13,092 crore in the previous fiscal’s equivalent period.
According to a brokerage poll, standalone sales were predicted to be Rs 14,904 crore, up 13.8 per cent year on year, while profit after tax (PAT) was expected to be Rs 2,481 crore, up 8.3 percent year on year (YoY).
The quarter’s underlying volume rise of 5 per cent was in line with the Street’s projection of 4-5 per cent.
Sanjiv Mehta, CEO and Managing Director commented, “Sustaining our strong momentum, we had yet another quarter of solid all-round performance delivering double-digit revenue and earnings growth. Our consistent performance is reflective of our strategic clarity, strength of our brands, excellence in execution, and dynamic financial management.”
“I am excited about our foray into the fast evolving ‘Health and Wellbeing’ category through our strategic partnerships with OZiva and Wellbeing Nutrition,” he added.
In addition to the results, the Board of Directors authorised a new agreement with Unilever group businesses for the transfer of technology and trademark licences to HUL. The royalty and central services fees would increase from 2.65 percent of revenue in FY22 to 3.45 per cent of turnover under the new agreement.
“This increase will be effected in a staggered manner over a period of 3 years. This arrangement is subject to appropriate regulatory approvals,” the press release added.
