Hindustan Unilever Ltd.’s (HUL) second-quarter net profit grew 22% to ₹2,670 crore on account of better margins and market-share growth in 75% of its product portfolio.

Total sales rose 16% to ₹14,896 crore.

“We continue to manage our business dynamically driving savings harder across all lines of P&L, investing competitively behind our brands and ensuring right price-value equation,” the company said.

The Board of Directors has declared an interim dividend of ₹17 per share for year ending 31, March 2023.

Sanjiv Mehta, CEO and MD, HUL said, “Building on our strong momentum we have delivered yet another quarter of solid all-round performance. In H1 2022-23 we have added an incremental turnover of more than ₹4,000 crore. 

“Our consistent performance is reflective of our strategic clarity, strength of our brands, operational excellence, and dynamic financial management. We continue to make excellent progress on our ‘Reimagine HUL’ agenda.”.

He said the demand environment remained challenging with inflation impacting consumption. However, with softening in some commodities and monetary/ fiscal measures taken by the government, the company was cautiously optimistic in the near-term. 

“In this scenario, we will manage our business with agility, continue to grow our consumer franchise whilst maintaining our margins in a healthy range. We remain confident of the medium to long term potential of Indian FMCG sector and HUL’s ability to deliver a consistent, competitive, profitable and responsible growth,” he added.

Home Care delivered 34% growth with volumes growing in double digits. Both Fabric Wash and Household Care grew in high double-digits with all parts of the portfolio performing well. Beauty & Personal Care grew 11% driven by outperformance in premium portfolio. Skin Cleansing delivered strong double-digit growth led by Beauty and Premium brands viz. Lux, Dove and Pears. Hair Care further strengthened its market leadership with strong broad-based performance. Foods & Refreshment grew 4% driven by solid performance in Foods, Coffee and Ice-cream. 

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By Dipak

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