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Business News/ Companies / Company Results/  HUL Q2 Results: Net profit up 4% on year to 2,717 crore; dividend declared
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HUL Q2 Results: Net profit up 4% on year to ₹2,717 crore; dividend declared

HUL Q2 Results: HUL Q2 net profit rises 4% to ₹2,717 crore. HUL's Q2 revenue from operations up 3.6% to ₹15,276 crore. HUL declares interim dividend of ₹18 per equity share.

Hindustan Unilever share price closed flat at ₹2,549 apiece on BSE on Thursday. (REUTERS)Premium
Hindustan Unilever share price closed flat at 2,549 apiece on BSE on Thursday. (REUTERS)

HUL Q2 Results: Fast-moving consumer goods (FMCG) major, Hindustan Unilever Ltd (HUL), on Thursday reported an 4% year-on-year rise in its standalone net profit for the fiscal's second quarter ended September (Q2FY24) to 2,717 crore. The company had reported a profit of 2,616 crore in the year-ago period. Sequentially, the net profit was up 10%. Hindustan Unilever share price closed flat at 2,549 apiece on BSE. 

The total revenue from operations increased 3.6% to 15,276 crore from 14,751 crore, year-on-year (YoY).  As per company's exchange filing, earnings before interest, taxes, depreciation, and amortization (EBITDA) margin for the quarter ended September, came in at 24.6%, up by 130 basis points on year.

According to the company's exchange filing, EBITDA for Q2FY24 was 3,694 crore, up by 9% on year from 3,694 crore during the same period last year.

Also Read: HUL Q2 results: Hindustan Unilever announces interim dividend of 18 per equity share, know record date

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"We delivered a resilient and competitive growth whilst stepping up our EBITDA margin in a challenging operating environment, marked by subdued rural demand and heightened competitive intensity.

Looking forward we remain cautiously optimistic. FMCG demand is likely to continue a gradual recovery with tailwinds from the upcoming festive season, sustained buoyancy of services and Government’s thrust on capex. At the same time, we need to be watchful of volatile global commodity prices as well as the impact of monsoon on crop output and reservoir levels. In this context, our focus is to provide superior value to our consumers, drive competitive volume growth, and invest behind our brands.

We remain confident of the mid to long term potential of Indian FMCG sector and HUL’s ability to deliver a Consistent, Competitive, Profitable and Responsible growth," said Rohit Jawa, CEO and Managing Director of HUL in an exchange filing.

If commodity costs stay where they are, the company expects price growth to be slightly negative in order to support competitive volume growth. keeping EBITDA margins within a reasonable range and making competitive investments in support of long-term strategic goals and brands.

On the segment front, Home care increased by 3% with mid-single digit UVG, beauty and personal care by 4% with mid-single digit UVG, and food and refreshment by 4%, per the exchange filing.

The company has declared an interim dividend of 18 per equity share of face value of Re 1 each for the financial year ending 31st March, 2024. 

Also Read: Hindustan Unilever Q2 Results Preview: Revenue expected to moderate, low volume growth expected

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Published: 19 Oct 2023, 04:02 PM IST
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