Hindustan Unilever, a major FMCG company, increased its consolidated net profit by 7.86 percent to $2,481 billion for the quarter that ended in December from $2,300 billion in the same quarter last year.
Comparing the net profit to the Rs. 2,670 crore profit from the prior quarter, the net profit decreased by 7% sequentially. In comparison to the same quarter previous year, operating revenue increased by 16.35% to reach 15,707 crore during the reporting period. Operating revenue increased by 2.97% from the September quarter’s 15,253 crore. In comparison to the prior quarter, the company reported volume growth of 5%.
Home care, beauty, and HUL’s announcement that its board of directors had approved the plan to enter a new agreement with Unilever for the provision of technology, trademark licences, and services to HUL both saw revenue growth of 32%. The royalty and central services charge will rise under the new arrangement, and they will do so gradually over a three-year period.
“Our dependable performance is a result of our clear strategic direction, the power of our brands, superior execution, and nimble financial management. Through our strategic alliances with OZiva and Wellbeing Nutrition, we will be entering the rapidly developing “Health and Well-Being” area, and I couldn’t be more excited about it. In the short future, we are cautiously hopeful and think that the worst of the inflation is behind us. This ought to help the consumer demand to gradually increase again.
We continue to be committed to running our company with agility, expanding our consumer franchise, and keeping margins within a healthy range, according to Sanjiv Mehta, CEO and Managing Director of Hindustan Unilever Limited. “The rural market is now better than it was during the first quarter. Although it has played a significant role, inflation has reached its peak. There is still plenty to do. Consumers have preferred low unit price packs and layer pricing packs. Mehta told the media following the findings, “The ice cream business has bounced back and premiunization of products are in demand.