HUL Q4 net rises 12.74% to `2,601 cr

New Delhi: FMCG major Hindustan Unilever Ltd (HUL) on Thursday reported an increase of 12.74 per cent in its consolidated net profit at Rs2,601 crore for the fourth quarter ended March 31, 2023, led by underlying volume growth and improvement in margins.

The company had posted a net profit of Rs2,307 crore in the January-March quarter of the previous fiscal. Its net sales during the quarter under review stood at Rs14,926 crore, up 10.83 per cent, as against Rs13,468 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.

Sanjiv Mehta, CEO and MD, HUL, said: "In challenging circumstances of geo-political 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 around Rs 8,000 crore to our top line this fiscal with volume growth in mid-single digits despite a decline in FMCG market volumes." The board of HUL also recommended a final dividend of Rs 22 for the financial year ended March 31, 2023, on Equity Shares of Re 1 each.

"HUL delivered strong performance with turnover growth of 11 per cent and underlying volume growth of four per cent. Growth was competitive with more than 75 per cent of the business winning market shares," HUL said in its earnings statement. "Growth was significantly ahead of the market leading to handsome market share gains.