FMCG major Hindustan Unilever said its standalone net profit for the quarter ended December rose 16.76 percent year-on-year to Rs 2.243 crore from Rs 1,921 crore in the corresponding quarter last year.
The company said its total revenue including other income rose 10.23 percent year-on-year to Rs 13,183 crore in Q3FY22 from Rs 11,959 crore in the same quarter a year ago.
Sales from products stood at Rs 12,900 crore, up from R 11,682 crore. It also reported other operating revenue at Rs 192 crore, up about Rs12 crore from the comparable quarter. Sequentially, net profits rose 2.56 percent while total revenue rose 2.69 percent.
"Growth in the quarter was competitive and profitable. Business fundamentals remained strong with handsome market share gains in all our divisions both urban and rural markets and across price segments. Underlying volume growth at 2 percent was significantly ahead of the market," said the company.
"In the context of unprecedented inflation, we continue to manage our business dynamically, driving savings harder across all lines of P&L and taking calibrated pricing actions using the principles of net revenue management. We continue to invest competitively behind our brands, the company added.
Hindustan Unilever said Ebitda margin for the quarter under review stood at 25.4 percent, up 100 bps YoY. Its home care segment grew at 23 percent with a strong performance in fabric wash and household care. Beauty and personal care grew 7 percent led by skin cleansing, skincare, and color cosmetics. Foods and refreshment segment grew 3 percent on a very high prior-year comparator, driven by solid performance in tea and ice-creams
Sanjiv Mehta, Chairman, and Managing Director said, "We have delivered a strong and resilient performance in the quarter despite moderation in market growths and significant levels of commodity inflation. I am particularly pleased that the growth is extremely competitive with our market share gains being the highest in more than a decade. Our performance is reflective of our strategic clarity, the strength of our brands, operational excellence, and dynamic financial management of our business.”
In the near term, the operating environment will continue to remain challenging, Mehta said, adding that in this scenario, we will manage our business with agility, continue to grow our consumer franchise whilst maintaining our margins in a healthy range. "We remain confident of the medium to long term potential of Indian FMCG sector and HUL's ability to deliver a consistent, competitive, profitable and responsible growth," he added.