HUL Q1 profit up 7 per cent at Rs 1,881 crore, announces dividend of Rs 9.50
Jul 21, 2020
Mumbai (Maharashtra) [India], July 21 : Fast-moving consumer goods major Hindustan Unilever Ltd (HUL) on Tuesday reported a profit after tax for the quarter ended June at Rs 1,881 crore, up 7 per cent from Rs 1,755 crore in the same quarter of previous fiscal.
Sales, however, grew by 4 per cent to Rs 10,406 crore in Q1 FY21 as compared to Rs 9,984 crore in Q1 FY20. Earnings before interest, taxes, depreciation and amortisation (EBITDA) were flat at Rs 2,644 crore from Rs 2,647 crore in the same period.
"Our performance in the quarter has been resilient and reflective of the intrinsic strength of our portfolio, agility in operations, excellence in execution, purpose-driven leadership and strong balance sheet," said the company's Chairman and Managing Director Sanjiv Mehta.
"While constraints continue due to restrictions in several parts of the country and the near-term outlook remains uncertain, we remain well-positioned to drive competitive, profitable and responsible growth. The long-term structural opportunity of FMCG in India also remains intact," he said in a statement.
In a challenging context of COVID-19 disrupting markets and operations, said HUL, the company delivered a resilient performance and reported turnover growth of 4 per cent.
With health, hygiene and nutrition constituting around 80 per cent of portfolio, the company delivered healthy mid-single-digit domestic consumer growth.
HUL said that Lifebuoy delivered strong double-digit growth across formats. The company added that it has significantly stepped up capacities in both hand wash and hand sanitisers segments to meet the consumer needs.
The board of directors has approved the distribution of reserves to shareholders by means of a special dividend of Rs 9.50 per share.
