Hindustan Unilever Ltd., a major FMCG company, reported a gain in its consolidated net profit of 13.85% to Rs 2,391 crore for the first quarter ended June 2022 on Tuesday. In the April through June quarter of the prior fiscal year, the company reported a net profit of Rs 2,100 crore.
During the reviewed quarter, total revenue increased by 20.36% to Rs 14,757 crore. It was Rs 12,260 crore at the same time a year ago, according to a regulatory filing by Hindustan Unilever Ltd (HUL). The total amount spent increased by 20.79% to Rs 11,531 crore from Rs 9,546 crore in the first quarter of the previous fiscal.
Sanjiv Mehta, CEO and Managing Director of HUL, said, "We have executed yet another quarter of excellent topline and bottom-line performance in an environment which remains challenging, characterized by unprecedented inflation and the concomitant impact on consumption. By keeping margins within a healthy range, the business expanded aggressively while preserving its business model, he continued.
Regarding the future, he stated that "while there are short-term concerns about inflation, recent softening of commodities, projection of a regular monsoon, and monetary/fiscal measures made by the government augur well for the industry." ". We remain focused on providing a consistent, competitive, profitable, and responsible growth, and we are optimistic about the medium- to long-term prospects of the Indian FMCG sector "said he.
HUL reported that its home care business experienced 30% growth in the first quarter of the current fiscal year, driven by good results in fabric wash and housekeeping care, both of which saw high double-digit growth. The price of HUL shares on the BSE on Tuesday rose 0.52 percent to Rs 2,566.