Hindustan Unilever's Q1 net profit rises 5.7% to Rs 1,897 cr; sales up 3.7%

The company had posted a net profit of Rs 1,795 crore in April-June quarter of the previous fiscal.
FMCG major Hindustan Unilever on Tuesday reported a 5.7 per cent increase in consolidated net profit to Rs 1,897 crore for the first quarter ended June 30.

The company had posted a net profit of Rs 1,795 crore in April-June quarter of the previous fiscal.

Its sales during the quarter under review rose 3.65 per cent to Rs 10,570 crore, as against Rs 10,197 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.

"In a challenging context of Covid-19 disrupting markets and operations, HUL delivered a resilient performance with reported turnover growth of 4 per cent and profit after tax and before exceptional items growing by 7 per cent," said HUL.

Its total expenses increased 5.42 per cent to Rs 8,324 crore in Q1 FY2020-21, compared to Rs 7,896.

"Our performance in the quarter has been resilient and reflective of the intrinsic strength of our portfolio, agility in operations, excellence in execution, purpose-driven leadership and our strong balance sheet.

"While constraints continue due to restrictions in several parts of the country and the near-term demand outlook remains uncertain, we remain well-positioned to drive competitive, profitable, and responsible growth. The long-term structural opportunity of FMCG in India also remains intact," HUL CMD Sanjiv Mehta said.

Shares of HULon Tuesday settled at Rs 2,319.10 apiece on BSE, down 0.48 per cent from previous close.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel