Hindustan Unilever reported 10 per cent year-on-year growth at Rs 2,061 crore for the quarter ended June, which was in line with analysts’ estimates.
Comreni volumes rose 9% in the first quarter from a year ago, a period of local lockdowns covering the second wave.
This comes with a contract of 8% from a year ago when the country was under a complete lockdown. Volume growth, however, slowed sequentially.
While the new restrictions in India hit the market in the second quarter (April-June), they were less severe than in the same period last year, other Unilevers also. said in his semiannual remarks.
Net profit of India’s largest consumer goods maker fell 3.7% sequentially to Rs 2,070 crore in the quarter ended June, according to its exchange filing.
The soap-to-shampoo company reported a 13 per cent on-year rise in revenue from operations to Rs 11,915 crore.
On the operating front, the company’s earnings before interest, tax, depreciation and amortization rose 8 per cent on-year to Rs 2,847 crore.
The company’s margins, however, continued to suffer on account of higher commodity prices.
Impact on shares
Shares of HUL fluctuated after the results were announced. The stock gained as much as 3% before paring gains and is trading 2.17%, lower compared with a 0.9% gain in the benchmark Nifty 50.
Comment from Chairman
Sanjiv Mehta, “In a challenging environment, we have delivered a strong performance across topline and bottomline. Our performance in the quarter has been resilient and is reflective of our capabilities, the agility in our operations and the intrinsic strength of our portfolio.”
Comment from CFO
Ritesh Tiwari, “We are in the thick of the season for tea and palm (oil). Over the next couple of months, we will have to see … production of these commodities, which will later show us the kind of pricing we will see.”
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