HUL’s Q2 net falls 2.33% to Rs. 2,595 crore

New Delhi: FMCG major Hindustan Unilever Ltd (HUL) on Wednesday reported a 2.33 per cent decline in consolidated net profit at Rs2,595 crore for the second quarter ended in September 30, 2024, on account of demand moderation in the urban market. The company had logged a net profit of Rs2,657 crore in the July-September quarter a year ago, HUL said in a regulatory filing. However, revenue from product sales was up 2.36 per cent at Rs15,703 crore in the September quarter from Rs15,340 crore in the year-ago period, HUL which owns power brands such as Surf, Rin, Lux, Pond’s, Lifebuoy, Lakmé, Brooke Bond, Lipton and Horlicks said. HUL’s board also approved an interim dividend of Rs 19 per share for the year ending March 31, 2025. The Board has additionally declared a special dividend of Rs 10 per share resulting in a total dividend payout of Rs6,814 crore.

“In the September quarter, FMCG demand witnessed moderating growth in urban markets, while rural continued to recover gradually. In this context, we delivered a competitive and profitable performance,” HUL CEO and Managing Director Rohit Jawa said.

HUL reported an underlying sales growth of 2 per cent and underlying volume growth of 3 per cent. Total expenses were at Rs12,581 crore in the September quarter, up 3.03 per cent year-on-year. HUL’s total income, which includes other income, was up 2.14 per cent to Rs16,145 crore in the September quarter of FY25.

“In the base quarter, there was a one-off indirect tax credit from a favourable resolution of past litigation which benefited both topline and bottom line in the Beauty and Wellbeing segment.