HUL net up 14.65% at R787.2 crore

FMCG major Hindustan Unilever Ltd has posted a 14.65 per cent increase in its net profit at Rs 787.20 crore for the fourth quarter ended March 2013,on the back of robust sales across various business verticals.

Written by Express News Service | Mumbai | Published: April 30, 2013 2:22:33 am

FMCG major Hindustan Unilever Ltd (HUL) has posted a 14.65 per cent increase in its net profit at Rs 787.20 crore for the fourth quarter ended March 2013,on the back of robust sales across various business verticals.

HUL shares rose 6.98 per cent,its biggest gain since July 2012,to Rs 497.60 on the BSE on Monday. The company had posted a net profit of Rs 686.61 crore for the same period of previous fiscal. Net sales of the company rose by 12.48 per cent to Rs 6,367.14 crore for the March 2013 quarter,as against Rs 5,660.48 crore in the corresponding period of previous fiscal,HUL said.

Commenting on the results,HUL chairman Harish Manwani said that in a challenging environment,the company has delivered broad-based competitive growth and margin improvement. “We have continued to invest in strengthening our brands,stepped up innovation and driven in-market execution and operational efficiencies even harder,” he added.

“While there are near-term concerns around slowing market growth and inflationary pressures on consumers,we are confident of the medium-to-long-term growth prospects of the FMCG sector and remain focused on delivering consistent and competitive growth with sustainable operating margin improvement,” he said.

Ritwik Rai,FMCG analyst,Kotak Securities,said: “Steady volume growth and positive surprise on margins are the key positives from the results. Growth in the quarter has been driven largely by the soaps and detergents segment,which has registered 13 per cent growth in revenues and 20 per cent growth in profits.”

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