FMCG major Hindustan Unilever Ltd (HUL) on Wednesday reported a 8.6 percent year-on-year (YoY) jump in net profit at Rs 2,327 crore for the fourth quarter ended March 31, 2022.
In the corresponding quarter last year, the company posted a net profit of Rs 2,143 crore. CNBC-TV18 Polls had predicted a profit of Rs 2,165 crore for the quarter under review.
In the last financial year, HUL became a Rs 50,000 crore turnover company and also the first pure FMCG firm to achieve this milestone. The company's turnover for the financial year ended March 31, 2022, was Rs 50,336 crore as against a turnover of Rs 45,311 crore for the financial year ended March 31, 2021.
Total expenses were at Rs 10,782 crore as against Rs 9,667 crore. Revenue from operations was at Rs 51,472 crore in 2021-22. This is 11.24 percent higher than Rs 46,269 crore in the previous year.
The profit before tax was Rs 11,739 crore against Rs 10,490 crore for the corresponding year. Depreciation/amortization for the year was Rs 1,025 crore as against Rs 1,012 crore in the corresponding year. Exceptional items for the period amounted to a loss of Rs 34 crore as against the loss of Rs 227 crore in the corresponding year.
Provision for taxation (including deferred tax) is Rs 2,921 crore (Last Year: Rs 2,536 crore). Profit after tax and net profit increased to Rs 8,818 crores (Last Year: Rs 7,954 crore).
Sanjiv Mehta, CEO and managing director said, "In challenging circumstances, we have grown competitively and protected our business model by maintaining margins in a healthy range. I am also pleased that we have become a Rs 50,000 crore turnover company in this fiscal.
Our consistent performance is reflective of our strategic clarity, the strength of our brands, operational excellence, and dynamic financial management of our business. While there are near-term concerns around significant inflation and slowing market growth, we are confident of the medium to long term prospects of the Indian FMCG sector and remain focused on delivering a Consistent, Competitive, Profitable and Responsible growth."
Home care segment grew 24 percent with a strong performance in fabric wash and household care. Both categories grew in strong double-digits with all parts of the portfolio performing well.
Beauty and personal care segment grew competitively at 4 percent. Skin Cleansing delivered double-digit growth driven by pricing and led by strong performance in ‘Lux’, ‘Dove’ and ‘Pears’.
Foods and refreshment segment grew 5 percent on a very high prior-year comparator, driven by solid performance in beverages, foods, and icecream. Tea continued its robust performance and grew competitively on an exceptionally high base.
The company's board has recommended a final dividend of Rs 19 for the financial year ended March 31, 2022, on equity shares of Re 1 each. The company had earlier paid an interim dividend of Rs 15 per share on November 12, 2021. The total dividend for the said period amounts to Rs 34 per equity share of the face value of Re 1 each.
The results came after the close of the market hours. Shares of Hindustan Unilever ended at Rs 2,144.25, down by Rs 3.90, or 0.18 percent on the BSE.