Hindustan Unilever Ltd net profit rises 19%; Leo Puri joins boardhttps://indianexpress.com/article/business/companies/hindustan-unilever-ltd-net-profit-rises-19-leo-puri-joins-board-5400005/

Hindustan Unilever Ltd net profit rises 19%; Leo Puri joins board

Sales during the quarter under review stood at Rs 9,138 crore as against Rs 8,199 crore in the year-ago period, up 11.45 per cent, HUL said in a regulatory filing.

Revenue from the personal care segment during the quarter under review was at Rs 4,316 crore as against Rs 3,910 crore a year earlier.

Hindustan Unilever Ltd (HUL) has reported a 19.51 per cent increase in net profit at Rs 1,525 crore for the September 2018 quarter as against a net profit of Rs 1,276 crore during the same period last fiscal. The company also announced the appointment of Leo Puri as an Independent Director on its board effective October 12, 2018. Puri was the Managing Director of UTI Asset Management Company till recently.

Sales during the quarter under review stood at Rs 9,138 crore as against Rs 8,199 crore in the year-ago period, up 11.45 per cent, HUL said in a regulatory filing. “Our focus on strengthening the core, leading market development and driving excellence in execution has enabled us to deliver competitive and profitable growth. In the near term, we expect demand to be stable. Our strength of agility and responsiveness gives us confidence to navigate the headwinds arising from crude inflation and currency depreciation,” HUL Chairman and Managing Director Sanjiv Mehta said.

HUL Chief Financial Officer Srinivas Phatak said while the company expects the demand to be stable in the near term, the company will watch out for currency depreciation and crude price increase. Pathak said the company had undertaken a price increase of 2-3 per cent across select home care category products in the quarter under review.

Revenue from the personal care segment during the quarter under review was at Rs 4,316 crore as against Rs 3,910 crore a year earlier, an increase of 10.38 per cent. Revenue from homecare products stood at Rs 3,080 crore, up 12.44 per cent, compared to Rs 2,739 crore reported in the corresponding quarter of the previous fiscal. The food and refreshment category accounted for Rs 1,704 crore, up 11.66 per cent, during the quarter as against Rs 1,526 crore a year earlier.

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