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India's largest FMCG company, HUL(Hindustan Unilever), reported an 11% YoY growth in standalone profits as it beat all Street estimates.
Profit for the quarter ended in June 2022 came in at Rs 2,289 crores, up 11% from Rs 2,061 crores reported in the corresponding quarter last year. Company revenues grew 19% to Rs 14,016 crores during the quarter as opposed to Rs 11,730 crores last year. Sales volume registered a growth of 6% YoY.
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The company said that it continued to grow ahead in the market, gaining value and volume market shares. Its Home Care segment registered a 30% growth driven by strong growth in Fabric Wash and Household care. The Beauty & Personal Care segment reported a growth of 17% led by strong demand for Hair Care while Food and Refreshments grew 9% with robust demand for ice cream, coffee, and food solutions.
EBITDA margins of the company came in at 23.2%, down 110 bps YoY, even as the company faced inflationary pressures during the quarter. Higher input costs forced the company to raise prices across several segments.
"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," HUL CEO & MD, Sanjiv Mehta said.
The stock of the FMCG giant is moving well as itis currently up 1.5%, trading around Rs 2,605 per share.
Article by Aman Agarwal.
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