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HUL reports 41% jump in March quarter profit – Mint

Hindustan Unilever Ltd (HUL) on Thursday reported a 41% rise in standalone net profit in the March quarter from a year-ago period helped by a lower base and a strong demand for its foods and refreshments portfolio as well as a recovery in categories such as fabric wash.

Profit in the three months ended 31 March 2021, rose to Rs2,143 crore from Rs1,519 crore it reported a year earlier, exceeding street estimates.

Standalone revenue for the quarter jumped 34.46% to Rs11,947 crore from Rs8,885 crore it reported in the same quarter last year.

Earnings estimates by 16 brokerages had expected the maker of Vim dishwash bar and Lux soaps to report net income of Rs1,967.9 crore, with revenues estimated at Rs11,733.40 crore.

“Our in-quarter performance was strong on both the top-line and bottom-line. Despite challenging times, in FY21 our business ecosystem has withstood the disruption and demonstrated agility and resilience across the value chain. We have delivered on our multi stakeholder business model,” Sanjiv Mehta, chairman and managing director, HUL, said in an earnings statement on Thursday.

However, Mehta flagged the recent surge in covid-19 cases. “The recent surge in covid cases is of serious concern and ensuring safety and well-being of people remains our top priority. We will continue to work closely with governments, health authorities and our partners to support the needs of the society and the Nation to overcome this adversity,” he said.

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