FMCG giant HUL’s net profit jumped by about 11 percent, sales up 13 percent

FMCG major Hindustan Unilever Limited (HUL) on Thursday said its cumulative net profit rose 10.7 per cent to Rs 2,100 crore in the first quarter of the current financial year ended June 2021. This growth was achieved due to the increase in sales despite the challenging conditions due to the Kovid-19 epidemic.

The company had made a net profit of Rs 1,897 crore in the April-June quarter of the last financial year. HUL told the stock exchange that its net sales increased by 13.21 per cent to Rs 11,966 crore in the quarter under review as against Rs 10,570 crore in the same period a year ago. According to the company, HUL performed strongly amid challenging conditions due to the second wave of the Kovid epidemic, with domestic consumer growth up 12 per cent and profit after tax by 10 per cent.

Demand expected to remain strong

The company said that its total expenditure in the first quarter of the financial year 2021-22 was Rs 9,546 crore. In the same period a year ago, this figure was Rs 8,324 crore. Sanjiv Mehta, CMD, HUL said, “In a challenging environment, we have shown strong performance in net profit and net income. Our performance in the quarter has been resilient and reflects our capabilities, the efficiency in our operations, the intrinsic strength of our portfolio.” Mehta further said that he remains optimistic about the recovery in demand. Home maintenance items, beauty products and personal care segments grew in double digits in the quarter under review.

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