Hindustan Unilever Ltd on April 24 reported 6% fall in standalone net profit at Rs 2,406 crore for the fiscal fourth quarter as against Rs 2,552 crore in the year-ago period.
Hindustan Unilever's sales rose only marginally to Rs 14,693 crore in the fourth quarter, with revenue in a key segment, beauty and personal care, declining 2.7%. HUL announced final dividend of Rs 24 per share for FY24 on equity shares of face value of Re 1. The company had earlier paid an interim dividend of Rs 18 per share on November 16, 2023. The total dividend for FY24 amounts to Rs 42 per equity share of face value of Re 1 each.
Analysts projected a profit of Rs 2,435 crore on revenue of Rs 14,913 crore, according to the average of nine brokerage estimates.
On April 24, HUL's shares on BSE closed trading marginally lower at Rs 2,260.05 apiece.
Rohit Jawa, CEO and Managing Director, said: "In FY24 we delivered a resilient performance with 3% USG and crossed Rs 10,000 crores Net Profit mark. We remain focused on driving operational excellence and have continued to build back our gross margins whilst stepping up investment in brands and long-term capabilities. Looking forward, I am optimistic of consumer demand gradually improving due to a normal monsoon and better macro-economic indicators.
"With rising affluence, under-indexed FMCG consumption and a strong digital infrastructure, I remain very confident of the medium to long-term potential of Indian FMCG sector. To serve the evolving aspirations of Indian consumers, we have embarked on a journey of 'Transform to Outperform'. Our key thrusts of Growing our Core through Unmissable Brand Superiority, Market making and Premiumisation, Re-shaping our portfolio to high growth spaces and Leadership in Channels of future, backed by our distinctive capabilities will enable us to continue winning in the Indian FMCG sector."
The company's homecare segment, its biggest one, which houses brands like Surf Excel and Comfort, posted mid-single-digit percentage volume growth led by outperformance in Vim liquid.
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