Hindustan Unilever (HUL) on Thursday reported a 10 per cent year-on-year (YoY) rise in its standalone net profit at Rs 2,552 crore for the March quarter of FY23 compared to Rs 2,327 crore in the same quarter of the previous financial year, according to the company’s regulatory filing.
Total revenue came in at Rs 15,053 crore, rising 10.81 per cent YoY from Rs 13,584 crore in the year-ago quarter, it said.
The company also reports an increase of 11 per cent YoY in sales of Rs 14,638 crore compared to last year in the same quarter at Rs 13,190 crore.
The FMCG major’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose by 7 per cent YoY at Rs 3,471 crore.
Its home care and beauty and personal care reported a rise of 35 per cent YoY at Rs 5,638 crore and Rs 5,188 crore respectively, followed by growth of food and refreshment of 27 per cent YoY at Rs 3,794 crore.
Sanjiv Mehta, CEO and Managing Director commented, “In challenging circumstances of geopolitical uncertainties, high commodity inflation and tepid market growths, I am pleased that we have delivered yet another year of strong and resilient performance.”
“We have added c. Rs. 8000 Crores to our topline in this fiscal with volume growth in mid-single digits despite decline in FMCG market volumes,” he added.
He said that looking forward, the near-term operating environment is likely to remain volatile. With inflation easing due to lapping of high base and sequential softening in a few commodities, price and volume growths will rebalance. Market volumes will recover gradually as consumption habits readjust.
“We remain focused on managing our business with agility and growing our consumer franchise whilst maintaining margins in a healthy range,” he said.
“We stay confident of the medium to long term potential of the Indian FMCG sector and HUL’s ability to deliver a Consistent, Competitive, Profitable and Responsible growth,” he added.