HUL’s Q4 profit rises 7% to Rs1,089.59 crore; shares decline
Net sales of India's largest consumer packaged goods maker rise 3.37% to Rs7,809.40 crore
Mumbai: Hindustan Unilever Ltd (HUL), India’s largest consumer packaged goods maker, said fiscal fourth quarter profit rose 7%.
Net profit rose to ₹ 1,089.59 crore in the three months ended 31 March from ₹ 1,018.08 crore a year ago. Net sales rose 3.37% to ₹ 7,809.40 crore.
A Bloomberg poll of 22 brokers had estimated stand-alone profit at ₹ 1,028.2 crore on sales of ₹ 7,986.2 crore for HUL.
Advertising expenses rose 6.3% to ₹ 1,089.95 crore. Total expenses rose 2.15% to ₹ 6,566.36 crore.
During the quarter, the domestic consumer business grew at 4%, with 4% underlying volume growth, the company said in a statement to stock exchanges.
Growth in the quarter was impacted by the phasing out of excise duty incentives, a one-time credit for excise duty refund in the year-ago quarter and marginal price decline, the company said.
“Our sustained focus on investing behind brands sharpening our executional capabilities and driving market development has enabled us to keep winning with consumers in a rapidly changing market," said chairman Harish Manwani.
The company’s board approved a final dividend of ₹ 9.50 a share.
Shares of HUL closed 0.80% lower at ₹ 846.10 apiece on BSE, while the exchange’s benchmark Sensex rose 1.82% to 25,688.86 points.
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