Hindustan Unilever Limited’s (HUL) Q2 net profit jumped 22% to ₹2,670 crore, driven by improved margins and increased market share across 75% of its product portfolio.
Total sales increased by 16% to ₹14,896 crore.
“We continue to make savings across all lines of P&L to drive our business dynamically, invest competitively behind our brands and ensure the right value-price equation,” the company said.
The Board of Directors has declared an interim dividend of ₹17 per share for the year ending March 31, 2023.
Sanjiv Mehta, CEO and MD, HUL said, “Building on our strong momentum, we have delivered another quarter of solid all-round performance. We have added an incremental business of over ₹4,000 crore in H1 2022-23.
“Our consistent performance reflects our strategic clarity, the strength of our brands, operational excellence and dynamic financial management. We continue to make excellent progress on reimagining our ‘HUL’ agenda.”
He said the demand environment remains challenging as inflation is impacting consumption. However, with moderation in some commodities and monetary/fiscal measures taken by the government, the Company was cautiously optimistic in the short term.
“In this scenario, we will manage our business with agility, continue to grow our consumer franchise while maintaining our margins in a healthy range. We are confident of the medium to long term potential of the Indian FMCG sector and HUL’s ability to deliver consistent, competitive, profitable and responsible growth,” he said.
Home Care posted 34% growth and volumes grew in double digits. Both Fabric Wash and Household Care have grown in the high double digits and all segments of the portfolio have performed well. Beauty & personal care grew 11% on the back of outperformance in the premium portfolio. Skin Cleansing delivered strong double-digit growth led by Beauty and Premium brands. Lux, pigeon and pear. Hair Care further consolidates its market leadership with strong broad-based exposure. Foods & Refreshments grew 4%, led by solid performance in Foods, Coffee and Ice Cream.