Hindustan Unilever Q4 net up 10% at Rs 2,500 crore on price hikes

MUMABI: Hindustan Unilever (HUL) posted a 10% growth in net profit at Rs 2,552 crore in the fourth quarter ended March. The increase was driven largely by product price hikes, even as inflation moderated sequentially and the fast-moving consumer goods (FMCG) industry showed a gradual improvement in growth with the rural market slowdown bottoming out. HUL’s net profit in the corresponding quarter of previous year was Rs 2,327 crore.
March quarter revenues grew 11% to Rs 14,638 crore, with a price growth of 7% and underlying growth of 4%. Revenues in the yearago period were Rs 13,190crore. Sequentially, gross margin improved by 120 basis points (100bps = 1 percentage point).
In fiscal 2022-23, turnover at Rs 58,154 crore grew 16% with underlying volume growth of 5%. Net profit at Rs 9,962 crore and EPS at Rs 42 per share was up 13%. Full-year earnings before interest, taxes, depreciation and amortisation (ebitda) margin remained healthy at 23. 4%.
HUL’s CEO & MD Sanjiv Mehta said, “In challenging circumstances of geopolitical uncertainties, high commodity inflation and tepid market growths, I am pleased that we have delivered yet another year of strong and resilient performance. We have added Rs 8,000 crore to our top line in this fiscal. ”