Hindustan Unilever Q1 profit increases 6.9% to Rs 2,556 crore

Hindustan Unilever Limited (HUL) announced its results for the quarter ended 30th June 2023.

The company has reported a 6.9% growth in consolidated profit after tax at Rs 2,556 crore in Q1FY24, riding on a gradual recovery in the FMCG industry despite operating in challenging environment, HUL quoted.

Further as per the filing, consolidated net profit stood at Rs 2,391 crore in the same quarter last fiscal.

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.

Company's 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.

Commenting on the quarter results, HUL CEO and Managing Director Rohit Jawa 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," 

HUL said its home care segment delivered another quarter of strong performance with 10% revenue growth while that of beauty and personal care rose 4%.

During pre-market session, shares of HUL were trading at Rs 2702.35 per share higher by 1.15% on the BSE.

Source: Media Reports