HUL net profit down by 2.62 percent in Q2

October 14, 2015

PerformanceGurus Staff

Mumbai, Oct 14

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]F[/dropcap]MCG major Hindustan Unilever (HUL) on Wednesday posted a decline of 2.62 percent in standalone net profit at Rs.962.24 crore [$148.61 million] for the quarter ended September 30.

The company posted a net profit of Rs.988.16 crore [$152.61 Million] in the corresponding time period last fiscal year.

In a regulatory filing with the Bombay Stock Exchange, the company said its total income has increased from Rs.7,837.13 crore [$1210.37 Million] for the quarter ended September 30 last year to Rs.8,125.55 crore [$1254.91 Million] for the quarter ended September 30 in 2015.

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]H[/dropcap]UL’s expenses during July-September were also up by 3.58 percent at Rs.6,705.67 crore [$1035.63 Million], as against Rs.6,473.68 crore [$999.80 Million] in the similar time period last year.

“The growth in the quarter continued to be impacted by the phasing out of excise duty incentives and price de-growth, as the benefit of lower commodity costs was passed on to consumers”, the company said in a statement.

The expense on taxes was up by 6.66 percent at Rs.445.47 crore [$68.80 Million] compared to Rs.417.64 crore [$64.5 Million].

During the quarter, the domestic consumer business grew at 5 percent with seven percent underlying volume growth.

It further said the lower input costs resulted in a 320 base points reduction in cost of goods sold.

The company’s revenue from the soaps and detergents segment was up by 1.63 percent at Rs.3,816.57 crore [$589.43 Million], as against Rs.3,755.10 crore [$579.94 Million] of the same quarter last fiscal.

The revenue from personal products was also up at Rs.2,345.57 crore [$362.25 Million] — a 9.46 percent increase compared with Rs.2,142.74 crore [$330.93 Million]in the same period last fiscal year.

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]R[/dropcap]evenues from the beverage segment was up by 5.94 percent at Rs.952.55 crore [$147.11 Million] as against Rs.899.13 crore [$138.86 Million].

Following the trend of increased revenue from segments, the packed foods was also up by 12.35 percent at Rs.507.09 crore [$78.32 Million] in the second quarter as against Rs.451.31 Crore [$69.7 million] registered in the same quarter of the last fiscal year.

Note:
1. The conversion rate used in this article is 1 US Dollar = 64.75 Rupees.
2.Some of the Content is used from IANS