NEW DELHI: FMCG major Hindustan Unilever (HUL) on Friday posted 19.51 per cent year-on-year rise in net profit at Rs 1,525 crore for quarter ended September 30. The firm had posted a profit of Rs 1,276 crore in the corresponding quarter last year.
Sales increased by 11.45 per cent YoY to Rs 9,138 crore for the quarter under review against Rs 8,199 crore in the year-ago period.
Domestic consumer growth stood at 12 per cent with underlying volume growth at 10 per cent.
Earlier in the day, shares of HUL closed 2.63 per cent up at Rs 1,568.65 on the BSE, while the benchmark BSE Sensex closed 2.12 per cent up at 34,733.58.
Here are five key takeaways from HUL’s Q2 earnings:
What’s in it for shareholders?
The company’s board has declared an interim dividend of Rs 9 per share on the face value Re 1 each for the financial year ending March 31. The record date for the purpose of dividend has been fixed as October 26, and the same will be paid to the shareholders on or after November 1.
Revenue from homecare segment increased 12.45 per cent to Rs 3,080 crore against Rs 2,739 crore last year. Beauty & personal care, food and refreshment and others (including exports, infants and femine care etc) posted 10.38 per cent, 11.66 per cent and 4.49 per cent YoY rise in revenue in Q2FY19.
“Stellar performance in homecare continued with fabric wash and household care delivering double-digit growth. Our market development and premiumisation initiatives are delivering good results,” the company said in a release.
Operating profit jumps
The company’s savings programme and leverage in other expenses has enabled it to mitigate material inflation and drive margin improvement. As a result, earnings before interest, tax, depreciation, and amortisation (Ebitda) jumped 20 per cent to Rs 2,019 crore.
Sanjiv Mehta, Chairman and Managing Director | We have delivered another strong performance. Our focus on strengthening the core, leading market development and driving excellence in execution has enabled us to deliver competitive and profitable growth. In the near term, we expect demand to be stable.
Leo Puri appointed as independent director
HUL also announced that the appointment of Leo Puri (57) as an independent director to its board, effective October 12.
Source: Economic Times