HUL shares up 2% after FMCG firm's Q2 standalone net profit jumps 21.2% to Rs 1,848 cr

  • HUL on Monday reported a 21.18 percent rise in standalone net profit to Rs 1,848 crore for the quarter ended on 30 September, 2019, mainly driven by home care, and beauty and personal care verticals

  • The company had posted a net profit of Rs 1,525 crore for the corresponding period of the previous fiscal, HUL said in a filing to BSE

  • Standalone sales during the quarter under review stood at Rs 9,708 crore as against Rs 9,138 crore for the same period year ago

New Delhi: The scrip of FMCG major Hindustan Unilever (HUL) on Tuesday advanced about 2 percent after the company reported a 21.18 percent rise in standalone net profit for the quarter ended on 30 September.

It rose by 1.89 percent to Rs 2,052.90 on the BSE; while on the NSE, it jumped 1.93 percent to Rs 2,053.20.

HUL on Monday reported a 21.18 percent rise in standalone net profit to Rs 1,848 crore for the quarter ended on 30 September, 2019, mainly driven by home care, and beauty and personal care verticals.

The company had posted a net profit of Rs 1,525 crore for the corresponding period of the previous fiscal, HUL said in a filing to BSE.

Standalone sales during the quarter under review stood at Rs 9,708 crore as against Rs 9,138 crore for the same period year ago.

"Amidst a challenging market environment, HUL has delivered another quarter of resilient performance and sustained margin improvement. Our focus on consumer value, excellence in execution and market development continues to serve us well," HUL Chairman and Managing Director Sanjiv Mehta said.

The near-term outlook for demand, especially in rural India, remains challenging, he added.

 HUL shares up 2% after FMCG firms Q2 standalone net profit jumps 21.2% to Rs 1,848 cr

Representational image. Reuters.

The revenue from the home care segment rose to Rs 3,371 crore in July-September 2019 from Rs 3,080 crore in the year-ago quarter, according to the filing.

Beauty and personal care segment revenue increased to Rs 4,543 crore in the quarter under review from Rs 4,316 crore in the same period of last year.

The revenue of foods & refreshment segment stood at Rs 1,847 crore in July-September 2019 against Rs 1,704 crore in the same quarter of last year.

The Board of Directors has declared an interim dividend of Rs 11 per share for the year ending March 31, 2020, the company said.

In a separate filing, HUL announced the appointment of Willem Uijen as Executive Director, Supply Chain, and a member of the HUL Board with effect from 1 January, 2020.

He succeeds Pradeep Banerjee who is retiring after a successful career of four decades, it added.

Shares of HUL Ltd closed at Rs 2,014.70 on BSE, up 0.50 percent from the previous close.

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Updated Date: Oct 15, 2019 11:41:28 IST