HUL Q2 standalone net profit rises 21.18% to Rs 1,848 crore

FMCG major Hindustan Unilever Ltd (HUL) on Monday reported a 21.18 per cent rise in standalone net profit to Rs 1,848 crore for the quarter ended on September 30, 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.

The revenue from 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 & 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.

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