HUL’s Q2 net falls on subdued rural demand

New Delhi: Hindustan Unilever Ltd (HUL) on Thursday reported a marginal decline in consolidated net profit to Rs2,657 crore for the second quarter ended September 30 amid subdued rural demand and heightened competitive intensity. The company had posted a consolidated net profit of Rs2,670 crore in the same quarter last fiscal, Hindustan Unilever Ltd (HUL) said in a regulatory filing.

The consolidated total income stood at Rs15,806 crore in the quarter under review compared to Rs15,253 crore in the year-ago period, it added. Its total expenses in the second quarter were higher at Rs12,211 crore against Rs11,965 crore a year ago. HUL said its board has approved an interim dividend of Rs18 per equity share of face value of Re 1 each for the financial year ending March 31, 2024. “We delivered resilient and competitive growth whilst stepping up our EBITDA margin in a challenging operating environment, marked by subdued rural demand and heightened competitive intensity,” HUL CEO and Managing Director Rohit Jawa said.