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HUL Q2 net up 8.13pc at Rs 988.16 crore

FMCG major Hindustan Unilever Ltd (HUL) reported a 8.13 per cent increase in standalone net profit at Rs. 988.16 crore for quarter ended September 30, 2014-15 as subdued demand continued to impact the sector.

The company reported net profit of Rs. 913.8 crore in the corresponding period a year ago, the company said in a BSE filing.

HUL’s net sales during the quarter stood at Rs. 7,465.54 crore, up 10.64 per cent compared with Rs. 6,747.2 crore during the same period last year.

Commenting on the quarterly result, HUL Chairman Harish Manwani said: “In a low growth environment, our emphasis on market development and innovations have helped deliver another quarter of double digit growth and a healthy improvement in operating margins.”

Meanwhile,HUL CFO P B Balaji told reporters that the demand for FMCG products continues to remain soft and despite headwinds, the company has delivered competitive growth.

“There is a lag of 2-3 quarters between economic indicators such as GDP and inflation numbers improving and sale of FMCG products. We remain positive about our medium to long-term growth outlook.”

Balaji added while the company continues to invest in its core categories, it is developing emerging categories such as hand wash, face wash, fabric conditioner and green tea for future.

Overall expenses in Q2 stood at Rs. 6,473.68 crore, as against Rs. 5,871.25 crore in the year-ago period. HUL’s tax expense went up sharply by 46.16 per cent to Rs. 417.64 crore compared to Rs. 285.73 crore in the corresponding period a year ago.

During the quarter, revenue from soap and detergents increased by 9.86 per cent to Rs. 2142.74 crore and personal products by 7.62 per cent to Rs. 899.13 crore.

Revenue from beverages grew by 7.62 per cent to Rs. 899.13 crore and packaged food increased by 13.40 per cent to Rs. 451.31 crore.

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