The company’s total revenue was Rs 15,473 crore in the third quarter, up 0.10% from Rs 15,456 crore in the previous quarter.
Hindustan Unilever Limited (HUL) reported a standalone net profit of Rs 2,519 crore in the December quarter of financial year 2023-24 (FY24), up just 0.55% from Rs 2,505 crore in the same period of the financial year before .
Further, the company reported a 7.28 per cent sequential decline in profit from Rs 2,717 crore in the previous quarter, HUL said in a regulatory filing on Friday.
The company’s total revenue was Rs 15,473 crore in the third quarter, up 0.10% from Rs 15,456 crore in the previous quarter. The FMCG category reported a sequential decline in total revenue growth of 0.55 per cent, from Rs 15,559 crore in the September quarter. “HUL delivered another quarter of resilient performance driven by strong operating fundamentals in a challenging operating environment. Rohit Jawa, Chairman, Managing Director and CEO, HUL said, “Our focus on delivering the right value to consumers, execution excellence, increased investments in Brands and capabilities, premiumization and market development continue to serve us well.”
Increased government spending, continued winter crop planting and better harvests are likely to contribute to a gradual recovery in market demand, he added, stressing that rural income growth and Winter crop yields are the “key factors” determining the pace of recovery.
“Against this backdrop, our goal remains to drive competitive volume growth while increasing investment in our brands and our long-term strategic priorities. We remain confident in the medium to long-term potential of the Indian FMCG industry and HUL remains well-positioned to unlock this opportunity while addressing short-term challenges,” Jawa said. “EBITDA margin at 23.7% improved 10 basis points compared to the December 2022 quarter. A&P gross and capex margins increased 400 basis points and 270 basis points. We continue to run our business with agility by ensuring the right price-value equation and investing competitively in our brand and capabilities for the long term,” HUL said.
The FMCG major said it reported underlying volume growth (UVG) of 2%. Home, beauty and personal care, which make up approximately 75% of our business, continued to recover in volume and recorded UVG in the mid-single digits, the company said.
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