HUL Q2 Net Profit rises by 16% to Rs 1,276 cr
The firm stepped up advertising and promotion spends to support innovations during the quarter
Hindustan Unilever Limited’s EBITDA margin was up 180 bps and net profit at Rs 1,276 crore grew 16 per cent over Rs 1,095.60 crore in corresponding quarter of the previous year.
The firm stepped up advertising and promotion spends to support innovations. According to the release, the company's ad and promotional spending was up by 20% from Rs 851 cr in Q2 FY17 to Rs 1,023 cr Q2 FY18. The company spent Rs 905 cr in first quarter of FY18 ending June 30. The firm stepped up advertising and promotion spends to support innovations, HUL said in a release, as it added, “While transition to GST impacted trade purchases in early part of the quarter, consumer offtake remained stable. Trade conditions continue to improve and the wholesale channel is steadily normalising.”HUL said in a release, as it added, “While transition to GST impacted trade purchases in early part of the quarter, consumer offtake remained stable. Trade conditions continue to improve and the wholesale channel is steadily normalising.”
Pre-GST, Hindustan Unilever Ltd beat market expectations to report a 9 per cent increase in its first quarter profit to ₹1,283 crore compared with ₹1,174 crore in the corresponding quarter last year.
The Board of Directors has declared an interim dividend of Rs. 8 per equity share of face value of Re. 1 each for the year ending 31st March 2018.
Harish Manwani, Chairman, said, “In a challenging business environment, we delivered a particularly strong overall performance. This reflects the strength of our brands and our relentless focus on execution in the market place. I am pleased that we were able to swiftly implement GST and quickly pass on the net benefit through price reductions to consumers across the country. Despite short-term challenges, we are confident of the medium-term outlook for the FMCG industry and remain focused on driving consumer value and profitable volume driven growth.”
The firm stepped up advertising and promotion spends to support innovations. According to the release, the company's ad and promotional spending was up by 20% from Rs 851 cr in Q2 FY17 to Rs 1,023 cr Q2 FY18. The company spent Rs 905 cr in first quarter of FY18 ending June 30. The firm stepped up advertising and promotion spends to support innovations, HUL said in a release, as it added, “While transition to GST impacted trade purchases in early part of the quarter, consumer offtake remained stable. Trade conditions continue to improve and the wholesale channel is steadily normalising.”HUL said in a release, as it added, “While transition to GST impacted trade purchases in early part of the quarter, consumer offtake remained stable. Trade conditions continue to improve and the wholesale channel is steadily normalising.”
Pre-GST, Hindustan Unilever Ltd beat market expectations to report a 9 per cent increase in its first quarter profit to ₹1,283 crore compared with ₹1,174 crore in the corresponding quarter last year.
The Board of Directors has declared an interim dividend of Rs. 8 per equity share of face value of Re. 1 each for the year ending 31st March 2018.
Harish Manwani, Chairman, said, “In a challenging business environment, we delivered a particularly strong overall performance. This reflects the strength of our brands and our relentless focus on execution in the market place. I am pleased that we were able to swiftly implement GST and quickly pass on the net benefit through price reductions to consumers across the country. Despite short-term challenges, we are confident of the medium-term outlook for the FMCG industry and remain focused on driving consumer value and profitable volume driven growth.”
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