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HUL Q2 net profit rises 9%; operations, services back to pre-Covid levels

HUL chairman and MD Sanjiv Mehta said operations and service levels are now back to pre-Covid levels. Total income increased 15.56 per cent to Rs 11,593 crore as against Rs 10,032 crore a year ago.

By: ENS Economic Bureau | Mumbai | October 21, 2020 12:43:49 am
The company indicated that “the worst is behind us and we are cautiously optimistic on demand recovery”. (File)

FMCG major Hindustan Unilever on Tuesday posted a nine per cent increase in its net profit at Rs 2,009 crore for the quarter ended September (Q2) of 2020 as against a net profit of Rs 1,848 crore in the same period of last year. The company indicated that “the worst is behind us and we are cautiously optimistic on demand recovery”.

HUL chairman and MD Sanjiv Mehta said operations and service levels are now back to pre-Covid levels. Total income increased 15.56 per cent to Rs 11,593 crore as against Rs 10,032 crore a year ago. The board of the company has declared an interim dividend of Rs 14 per share.

“In the context of a challenging economic environment, our growth has been competitive and profitable. We continue to demonstrate execution prowess, agility, adaptability, resilience, and passion of our people. We have expanded our portfolio with consumer relevant innovations and have invested strongly behind our brands. Our operations and service levels are now back to pre-COVID levels and we have accelerated the pace of digitizing our operations under the ‘Re-imagine HUL’ agenda,” Mehta said.

“The economic outlook has improved given the various initiatives taken by the government and Reserve Bank of India,” he added.

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