Tuesday, 23 April, 2019

HUL's Q3 PAT up nearly 28%

HUL’s results on Wednesday will demonstrate if consumer firms are seeing a recovery in demand particularly in rural areas HUL’s results on Wednesday will demonstrate if consumer firms are seeing a recovery in demand particularly in rural areas
Russell Knight | 18 January, 2018, 21:59

Total income during the quarter under review stood at Rs 8,742 crore as against Rs 8,400 crore in the year-ago period, up 4 per cent, the company said.

Revenue from the company's personal care segment, which houses brands such as Vaseline and Dove, rose 2.8 percent to 4.09 billion rupees.

The stellar quarterly performance was led by a double-digit volume growth in home care segment across categories.

HUL said its sales volume growth improved as the economy and businesses recovered from the impact of demonetisation and partly due to the rollout of GST from July 2017. It was up in personal care, foods and refreshment segments. Similarly, skin care business was driven by Fair & Lovely.

"Domestic Consumer Growth was 17% and underlying volume growth was 11% in Q3FY18". The company's earnings before interest, tax, depreciation and amortisation (ebitda) for the third quarter of current fiscal was up 110 basis points (bps).

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On the issue of being slapped with a notice by the Directorate General of Safeguards (DGS) for allegedly not passing on price reduction benefit to consumers post the rollout of goods and services tax (GST), HUL said, effective November 15, 2017, GST rates in many categories were reduced for some categories from 28% to 18%.

"We have delivered another strong performance in the quarter, with broad-based growth across categories and further improvement in margins", HUL chairman Harish Manwani said.

He, however, said there were early signs of commodity cost inflation and the company would further sharpen its focus on cost effectiveness programmes and manage business dynamically for competitiveness and sustained profitability. "An estimated value of Rs 119 crore was proactively disclosed to the CBEC (Central Board of Excise and Customs) on this count and we have offered to pay this amount suo motu to the government".

Revenue at the Indian unit of Unilever rose to 87.4 billion rupees ($1.4 billion) in the three months through December, the Mumbai-based company said in a statement Wednesday.

On Tuesday, HUL touched a 52-week high of Rs 1,390 per piece on the BSE, however, it ended on a negative note to Rs 1371.85 per piece on the index down Rs 9.45 or 0.68%.

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