Hindustan Unilever Ltd (HUL) on Wednesday released its fiscal third quarter earnings with profit at Rs 2,989 crore, up 19.18 per cent in comparison to Rs 2,508 crore reported during the corresponding quarter of FY24, surpassing estimates. In a statement, HUL said that the profit was driven majorly on account of profit from the divestment of ‘Pureit’ business while Profit After tax before exceptional items was flat. The company recorded revenue from operations at Rs 15,818 crore, up 1.61 per cent as against Rs 15,567 crore during the third quarter of previous financial year.
According to a CNBC TV 18 poll, HUL was expected to report Q3 profit at Rs 2,585 crore and revenue for the period was estimated at Rs 15,600 crore.
HUL reported an Underlying Sales Growth (USG) of 2 per cent and a flat Underlying Volume Growth (UVG) in DQ’24. “While absolute volume grew competitively, it was offset by a negative mix. EBITDA margin at 23.5 per cent continued to remain healthy,” the company said.
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HUL’s Q3 performance across business verticals
Home Care: Home Care USG was 6 per cent led by high-single digit UVG in Fabric Wash and Household Care. Fabric Wash performance was broad based, across formats. Liquids portfolio maintained its double-digit growth trajectory. Household Care achieved high-single digit UVG led by outperformance in dishwash.
Beauty & Wellbeing: Beauty & Wellbeing reported a 1 per cent growth while UVG witnessed a low-single digit decline. Hair Care delivered mid-single digit competitive volume growth driven by strong growth in Dove, Tresemme and Clinic Plus. Skin care, impacted by delayed winter and Colour cosmetics had a muted quarter. Sequential improvement in mass skin performance was supported by portfolio expansion, HUL said. Non-winter skin portfolio delivered a mid-single digit growth.
Personal Care: Personal Care declined 4 per cent with mid-single digit volume decline. HUL maintained that positive momentum was witnessed in the non-hygiene segment. Bodywash continued to strengthen its market leadership with strong double-digit growth. Oral Care, meanwhile, delivered mid-single digit growth led by Closeup.
Foods: Foods had a flat USG with mid-single digit price growth offset by decline in volume. Tea delivered low-single digit growth led by premium brands such as 3 Roses and Taj Mahal.
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