HUL Q1 Results: Profit surges 11% to Rs 2,289 crore YoY; volume up by 6%

Fast-moving consumer goods (FMCG) major Hindustan Unilever Limited (HUL) on Tuesday reported robust earnings for the June-end quarter of the financial year 2022-23 (Q1FY23). As expected, the company reported double-digit growth in profit, up 11 per cent to Rs 2,289 crore year-on-year (YoY).

In comparison, the FMCG company had reported Rs 2,061 crore profit in the same quarter a year earlier, HUL said in a filing to exchanges.

The company reported volume growth of 6 per cent during the June quarter and states that we continued to grow significantly ahead of the market, gaining value and volume market shares.

The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin at 23.2 per cent YoY remained healthy despite the unprecedented inflation in input costs, HUL said.

HUL reported the total sales grew by over 19 per cent to Rs 14,272 crore in the June-end quarter of FY23 as compared to Rs 11,915 crore in a year-ago quarter.

Segment-wise, Home Care delivered 30 per cent growth driven by strong performance in fabric wash and household care; Beauty & Personal Care growth of 17% was broad-based; Foods & Refreshment grew 9% driven by solid performance in ice-cream, coffee, and food solutions YoY in Q1FY23.

Sanjiv Mehta, CEO and Managing Director in his comment said, “In an environment which remains challenging, marked by unprecedented inflation and consequential impact on consumption, we have delivered yet another quarter of robust topline and bottom-line performance.”

While there are near-term concerns around inflation, the recent softening of commodities, forecast of a normal monsoon, and monetary/ fiscal measures taken by the government augur well for the industry, Mehta further said in his comment.

HUL is confident of the medium to long-term prospects of the Indian FMCG sector and remains focused on delivering Consistent, Competitive, Profitable, and Responsible growth, he added.

The company also announced the appointment of Yogesh Mishra as Executive Director, Supply Chain, HUL and Head – Supply Chain, Unilever South Asia effective September 1, 2022.

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