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Wednesday, August 05, 2020

GSK-CH merger helps HUL profits rise 7% despite Covid

HUL said total income increased 4.9 per cent to Rs 10,716 crore during the June quarter as against Rs 10,261 previously.

By: ENS Economic Bureau | Mumbai | Updated: July 22, 2020 2:16:56 am
Wockhardt, Wockhardt revenue, Wockhardt Dr Reddy deal, Dr Reddy, Dr Reddy business, business news The board which met here also approved a special dividend of Rs 9.50 per share of face value of Re one each resulting in total dividend payout of Rs 2,232 crore. (File)

Notwithstanding the disruption in the market and operations due to the Covid-19 pandemic, Hindustan Unilever Ltd (HUL) Tuesday reported a 7 per cent rise in net profit at Rs 1,881 crore during the June quarter, as against Rs 1,755 crore in the year-ago period.

HUL said total income increased 4.9 per cent to Rs 10,716 crore during the June quarter as against Rs 10,261 previously. The board which met here also approved a special dividend of Rs 9.50 per share of face value of Re one each resulting in total dividend payout of Rs 2,232 crore.

As per HUL, negative impact of adverse mix and higher Covid-19-related costs were deftly managed by dialing up savings and unlocking synergies of GSK-CH merger, enabling the company to sustain healthy EBITDA margins of 25 per cent. “We continued to remain competitive in our brand and marketing support spends in the quarter,” it said. Sanjiv Mehta, CMD, HUL, said, “While constraints continue due to restrictions in several parts of the country and the near-term demand outlook remains uncertain, we remain well positioned to drive … growth.”

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