FMCG major Hindustan Unilever Ltd (HUL) reported a 22.19 percent increase in its consolidated net profit to Rs 2,670 crore for the second quarter that ended September 30, mainly helped by volume growth.
The company had posted a net profit of Rs 2,185 crore in the July-September quarter of the previous fiscal.
The total income increased 16.44 percent during the quarter under review to Rs 15,253 crore. It was Rs 13,099 crore in the year-ago period, Hindustan Unilever Ltd (HUL) said in a regulatory filing.
The company delivered an "underlying volume growth of 4 percent" during the July-September quarter.
"Growth was significantly ahead of the market with more than 75 percent of the business winning value and volume market share," HUL said in its statement.
Its total expenses surged 18.12 percent to Rs 11,965 crore compared to Rs 10,129 crore in the second quarter of the last fiscal.
"Building on our strong momentum, we have delivered yet another quarter of solid all-round performance. In H1 2022-23, we have added an incremental turnover of more than Rs 4,000 crore. Our consistent performance is reflective of our strategic clarity, the strength of our brands, operational excellence, and dynamic financial management" said Sanjiv Mehta, CEO, and Managing Director HUL.
The demand environment remains challenging with inflation impacting consumption, Mehta added.
"However, with softening in some commodities and monetary/ fiscal measures taken by the government, we are cautiously optimistic in the near term. In this scenario, we will manage our business with agility, and continue to grow our consumer franchise whilst maintaining our margins in a healthy range," he said.
During the quarter, HUL's revenue from the home care segment rose 33.97 percent to Rs 5,142 crore, led by "volumes growing in double-digit".
HUL remains confident of the medium to long-term potential of the Indian FMCG sector and HUL’s ability to deliver consistent, competitive, profitable, and responsible growth, added Mehta.