Hindustan Unilever Q2 net up 4% to Rs 2,717 crore – Newz9

MUMBAI: Hindustan Unilever (HUL) reported a 3.8% development in net revenue at Rs 2,717 crore within the second quarter ended September 30, 2023, from Rs 2,616 crore within the corresponding quarter final yr. Sales rose 2.4% to Rs 15,027 crore from Rs 14,514 crore throughout the interval.
Underlying quantity development of two% is decrease than the previous quarter. EBITDA margin at 24.6% was up 130 bps yr on yr.
The firm stated within the quarter, there was a one-off credit score from beneficial decision of previous oblique tax litigation benefiting each topline and bottomline. Excluding this one-off, the underlying gross sales development and quantity development, EBITDA margin, PAT (bei) development would have been 3%, 2%, 23.8% and seven% respectively.
Rohit Jawa, CEO and Managing Director commented

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“We delivered a resilient and competitive growth whilst stepping up our EBITDA margin in a challenging operating environment, marked by subdued rural demand and heightened competitive intensity. Looking forward we remain cautiously optimistic.
FMCG demand is likely to continue a gradual recovery with tailwinds from the upcoming festive season, sustained buoyancy of services and Government’s thrust on capex.
At the same time, we need to be watchful of volatile global commodity prices as well as the impact of monsoon on crop output and reservoir levels. In this context, our focus is to provide superior value to our consumers, drive competitive volume growth, and invest behind our brands.”