HUL Q1 Results: Profit Rises 6.9% To Rs 2,556 Crore, Expenses Increase To Rs 12,167 Crore – News18

HUL Q1 Results: FMCG giant Hindustan Unilever Ltd (HUL) on Thursday posted a 6.9 per cent jump in its consolidated profit after tax to Rs 2,556 crore for the June 2023 quarter, against Rs 2,391 crore a year ago.

Consolidated total income in the first quarter stood at Rs 15,679 crore as against Rs 14,757 crore in the corresponding period last fiscal, according to a regulatory filing. Total expenses were higher at Rs 12,167 crore as compared to Rs 11,531 crore in the same quarter a year ago, the company said.

HUL’s total sales at Rs 15,267 crore grew by 6 per cent during the quarter.

Its earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter was Rs 3,665 crore grew by 8 per cent. Its EBITDA margin at 24 per cent increased 30 bps y-o-y.

Rohit Jawa, CEO and managing director of HUL, said, “FMCG markets are recovering gradually although the operating environment remains challenging. In this context we have delivered a resilient and competitive performance whilst stepping up our EBITDA margin.”

He added that in the near-term, FMCG industry will continue to witness rebalancing of price-volume growth equation and a gradual recovery in consumer demand. “In this environment, we will continue to provide superior value to our consumers and invest behind our brands. We remain focused on driving our long-term strategic priorities including market development and building distinctive capabilities for the future. I am confident of the medium to long term prospects of the Indian FMCG sector.”

Shares of HUL on Thursday rose 1 per cent y-o-y to close at Rs 2,700 apiece on the BSE.