HUL posts 11% on-year growth in standalone Q2FY22 revenues; PAT up 9% YoY on “calibrated” price hikes, savings
Fast Moving Consumer Goods (FMCG) major Hindustan Unilever Limited (HUL) reported an 11 per cent Year-on-Year (YoY) growth in its standalone revenues from operations at Rs 12,724 cr for the quarter ended 30 September which were only marginally lower than the estimates by Yes Securities.
The standalone net profit for Q2FY22 stood at Rs 2187 cr up almost 9 per cent YoY against Rs 2009 cr for Q1FY21.
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The brokerage firm had estimated HUL to post a revenue Rs 12,854.60 cr for July-September quarter, with 12.3 per cent Year-on-Year (YoY) growth.
“Robust broad-based performance in a challenging environment HUL delivered a strong performance in this quarter,” the company said in its filing to exchanges.
The results were announced during market hours. The shares of HUL were down 4.6 per cent on the NSE and were trading at Rs 2530.90.
On the standalone basis, HUL reported domestic consumer growth of 11 per cent while a Profit After Tax (PAT) growth of 9 per cent, the company said in its exchange filing.
EBITDA margin was stepped up sequentially vs JQ’21 and is at 25%.
Performance was broad based with all 3 divisions growing competitively, it said.
“Business fundamentals remained strong with more than three-fourths of the business gaining market share and penetration. Home Care: Home Care grew 15% driven by high double-digit growth in Fabric Wash. Household care continued to perform well and grew on a strong base,” the exchange filing said.
Liquids and Fabric Sensations continue to outperform. Calibrated price increases were taken across Fabric Wash and Household Care portfolios to partly offset the high inflation in input costs.
Skin Care and Colour Cosmetics delivered high double-digit growths as mobility improved.
Soaps grew on a high base led by strong growths in beauty and premium segment.
Meanwhile, Hand Hygiene portfolio declined, it said.
Health Food Drinks volumes grew double-digit and it continued to gain penetration sequentially. Ice Creams recovered strongly driven by effective communications and innovations.
“September quarter witnessed a sequential improvement in trading conditions, albeit remained challenging with unprecedented levels of input cost inflation and subdued consumer sentiments,” Sanjiv Mehta, Chairman and Managing Director said.
“In this backdrop, we have delivered a strong performance growing topline in double digits and stepping up profitability sequentially. Large parts of our business continue to gain market shares and penetration. Calibrated price increases and laser sharp focus on savings has helped us protect our business model while ensuring the right price-value equation for our consumers,”
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