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HUL Q1 profit up 7% at Rs 1,881 crore, volume contracts 7%; board announces dividend of Rs 9.50

Volume contracted by 7 percent in June quarter, against street expectations of 11-13 percent contraction.

July 21, 2020 / 06:57 PM IST

FMCG major Hindustan Unilever on July 21 has reported a standalone profit of Rs 1,881 crore for the quarter ended June 2020, increasing 7.2 percent compared to previous quarter, supported by sharp fall (down 31.4 percent) in advertising and promotion expenses, and strong double digit growth in foods & refreshment segment. However, it was impacted by exceptional expenses with respect to restructuring and acquisition.

Standalone revenue from operations during the quarter stood at Rs 10,560 crore, increasing 4.4 percent compared to Rs 10,114 crore in corresponding period last year.

Overall numbers were ahead of estimates. Profit was expected at Rs 1,790 crore on revenue at Rs 9,875 crore for the quarter, according to the average of estimates of analysts polled by CNBC-TV18.

"In a challenging context of COVID-19 disrupting markets and operations, HUL delivered a resilient performance with reported turnover growth of 4 percent and profit after tax and before exceptional items growing by 7 percent. Domestic consumer growth (excluding impact of merger with GSK Consumer Healthcare India) stood at -7 percent," company said in its BSE filing.