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Last Updated : Oct 14, 2019 05:09 PM IST | Source: Moneycontrol.com

HUL meets Street expectations in Q2FY20; net profit jumps 21%

The board of directors have declared an interim dividend of Rs 11 per share for the year ending March 31, 2020

 
 
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FMCG major Hindustan Unilever (HUL) on October 14 reported a 21 percent year-on-year (YoY) jump in its net profit at Rs 1,848 crore for July-September quarter of the financial year 2019-20 on the back of better volume growth.

Earnings before interest, tax, depreciation and amortisation (EBITDA) came at Rs 2,443 crore, up 21 percent (16 percent on comparable basis after adjusting for accounting impact of Ind AS 116).

The domestic consumer segment grew by 7 percent with underlying Volume growth at 5 percent.

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Reported EBITDA improvement is 310 bps (200 bps on a comparable basis after adjusting for accounting impact of Ind AS 116 on leases), the company claimed.

HUL's numbers meet market expectations on most parameters. Net profit at Rs 1,848 crore is about 3 percent more than CNBC-TV18 poll of Rs 1,800 crore.

Revenue at Rs 9,852 crore is higher by a percent of CNBC-TV18 poll of Rs 9,750 crore. EBITDA margin came at 24.8 percent against CNBC-TV18 poll of 23.7 percent.

The board of directors have declared an interim dividend of Rs 11 per share for the year ending March 31, 2020.

"Amidst a challenging market environment, HUL has delivered another quarter of resilient performance and sustained margin improvement. Our focus on consumer value, excellence in execution and market development continues to serve us well," said Sanjiv Mehta, Chairman and Managing Director of the company.

"The near-term outlook for demand especially in rural India remains challenging. However, HUL remains well-positioned to unlock the structural FMCG India opportunity while navigating the short-term challenges. We continue to progress our ‘purpose-led and future-fit’ agenda which is underpinned by our sustainability initiatives and ‘Re-imagining HUL’ driven by leveraging data and technology in all aspects of our operations," Mehta said.

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First Published on Oct 14, 2019 04:26 pm
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