Hindustan Unilever Ltd (HUL) on April 27 said it achieved a Rs 50,000 crore turnover in the last fiscal, which makes it the first pure FMCG entity to hit the milestone.
"In challenging circumstances, we have grown competitively and protected our business model by maintaining margins in a healthy range. I am pleased that we have become a Rs 50,000 crore turnover company in this fiscal," HUL CEO and Managing Director Sanjiv Mehta said.
The company released its financial performance for the quarter and year ending March 31. The Q4 profit after tax rose to Rs 2,327 crore, marking an 8.6 percent year-on-year surge. The revenue during the same period climbed to Rs 13,462 crore, an increase of 11 percent as compared to the corresponding quarter in the past fiscal.
For the full-year period from April 2021 to March 2022, the profit rose by 10.9 percent to Rs 8,818 crore from Rs 7,954 crore in the previous financial year.
The revenues for the full year increased 11.3 percent to Rs 51,193 crore compared to the revenues of Rs 45,996 crore for FY21.
The profit and revenues reported by the company were higher than analyst estimates.
"Our consistent performance is reflective of our strategic clarity, the strength of our brands, operational excellence, and dynamic financial management of our business," Mehta said.While there are near-term concerns around significant inflation and slowing market growth, we are confident of the medium to long term prospects of the Indian FMCG sector and remain focused on delivering a consistent, competitive, profitable and responsible growth," he further added.