Hindustan Unilever Q1 Results FY2024, Profit at Rs. 2,556 crores
On 20th July 2023, Hindustan Unilever announced its quarterly results for the last quarter of FY2023.
HUL Financial Highlights:
- Total sales at Rs. 15,267 crores grew by 6% during the quarter
- Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter at Rs. 3,665 crores, grew by 8%. EBITDA margin at 24.0 % increased by 30 bps.
- Profit after tax for the quarter at Rs. 2,556 crores grew by 7%.
HUL Business Highlights:
- Home Care continued its strong performance in the third quarter, with 10% revenue growth and mid-single-digit underlying volume growth. Due to premiumization and targeted market development initiatives, both Fabric Wash and Household Care experienced double-digit growth.
- Mid-single-digit underlying volume growth and 4% revenue growth were delivered by beauty and personal care. Skin Care and Colour Cosmetics saw double-digit growth as a result of the premium portfolio's strong performance. Tresemme, Indulekha, and Clinic Plus led the mid-single-digit underlying volume growth in the hair care category.
- Revenue from food and drink sales increased by 5%, but underlying volume growth was essentially unchanged. As consumers continued to downgrade due to higher inflation in premium teas relative to loose tea, the category of tea saw modest volume-driven growth.
Commenting on the results, Rohit Jawa, CEO and Managing Director said: “FMCG markets are recovering gradually although the operating environment remains challenging. In this context we have delivered a resilient and competitive performance whilst stepping up our EBITDA margin. In the near-term, FMCG industry will continue to witness rebalancing of price-volume growth equation and a gradual recovery in consumer demand. In this environment we will continue to provide superior value to our consumers and invest behind our brands. We remain focused on driving our long-term strategic priorities including market development and building distinctive capabilities for the future. I am confident of the medium to long term prospects of the Indian FMCG sector and HUL’s ability to deliver a Consistent, Competitive, Profitable and Responsible growth.”
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