BUSINESS & FINANCE
HUL Q4 net profit rises 14% to Rs 1,351 cr led by volume growth
FMCG major Hindustan Unilever Ltd (HUL) today reported 14.2 per cent increase in its standalone net profit to Rs 1,351 crore for the fourth quarter ended March 31, driven by a strong double digit volume growth.
The company had posted a net profit of Rs 1,183 crore in January-March period a year ago, HUL said in a BSE filing.
HUL's net sales during the quarter under review stood at Rs 9,003 crore compared to Rs 8,773 crore in the same quarter previous fiscal, it added.
After the implementation of GST in July last year, revenue for the March quarter is reported as net of GST, whereas in the year ago period excise duty was included in the revenue.
"During the quarter, our comparable domestic consumer growth was 16 per cent with underlying volume growth at 11 per cent," said HUL in a statement.
It said during the quarter under review revenue from home care was at Rs 3,102 crore as against Rs 3,004 crore in Q4 FY 2016-17 led by laundry segment.
"Laundry saw robust double-digit growth across key brands. Comfort Pure - fabric conditioner for delicate baby skin, was launched. Household Care growth was led by strong performance in Vim," the company said.
Revenue from personal care stood at Rs 4,096 crore as against Rs 4,075 crore in the year-ago period. It had "broad-based double-digit growth" across personal products and personal wash, it added.
"Growth in skin care was led by Fair & Lovely and Pond's. Hair care witnessed broad based volume led growth," the FMCG major said.
Food segment contributed Rs 299 crore during the period under review as against Rs 295 crore as its Kissan brand delivered growth, led by ketchups.
Refreshment segment, which includes Brooke Bond Red Label tea, Bru coffee and ice cream and frozen desserts business, stood at Rs 1,409 crore during the period as against Rs 1,300 crore earlier.
"Coffee witnessed strong volume led growth. Ice cream and frozen dessert grew in double-digits on the back of geographic expansion and exciting new launches, including Kwality Walls Sandwich and Cloud Bite," the company said.
While, others -- including exports, infants and feminine care - contributed Rs 191 crore as against Rs 201 crore in the corresponding quarter.
For the financial year 2017-18, HUL's consolidated net profit was up 16.41 per cent at Rs 5,227 crore as against Rs 4,490 crore in 2016-17.
Its consolidated net sales was at Rs 35,474 crore in 2017-18 as against Rs 34,964 crore in the previous fiscal.
Commenting on the result, HUL Chairman Harish Manwani said: "Despite a step-up in competitive intensity, we have delivered another strong performance for the quarter and the year. Growth and improvement in profitability have been sustained through a combination of winning innovations and a relentless focus on operational efficiencies".
Over the outlook, he said that HUL was seeing a gradual improvement in demand and this augurs well for the sector.
"We will continue to manage our business dynamically and will remain focused on our strategy of delivering consistent, competitive, profitable and responsible growth," Manwani said.
Meanwhile, in a separate filing, HUL informed BSE that its board in a meeting held today has recommended a final dividend of Rs 12 for the financial year ended March 31, 2018 on Equity Shares of Re 1 each.
Shares of HUL today settled at Rs 1,504.95 apiece on BSE, down 0.09 per cent from previous close.
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