Hindustan Unilever Ltd Q3 Results FY2024, Net profit at Rs.2508 crores

On 19th January, Hindustan Unilever announced its quarterly results.

Key Highlights:

- Total Sales were reported at Rs.15,294 crores for Q3FY24.
- EBITDA for the quarter was Rs. 3,666 crores
- Profit after tax for the quarter at Rs. 2,508 crores grew by 1%

Business Highlights:
 

- In Q3FY23, HUL showed resilience with an Underlying Volume Growth (UVG) of 2%. About 75% of the business comprises Home Care and Beauty & Personal Care, which continues to show volume recovery and has mid-single-digit UVG.
-  During the quarter, Home Care's revenue decreased with a mid-single digit UVG. 
 Mid-single-digit YoY growth in Fabric Wash volumes was fueled by superior performance in the premium portfolio. Dishwashers led the low single-digit growth in household care volumes.
- Revenue from Beauty & Personal Care stayed unchanged, with a mid-single digit UVG. Due to price reductions made to pass on to customers the benefits of decreasing commodity costs, skin cleansing revenue decreased.
- With volume driving double-digit growth across brands and future formats continuing to gain traction, Hair Care had a broad-based performance. 
- Closeup led to the mid-single-digit growth in oral care.
- Foods & Refreshment revenue grew 1%.  Health Food Drinks delivered competitive modest price-led growth driven by the Plus range

Commenting on the results, Rohit Jawa, CEO and Managing Director said: “HUL has delivered another quarter of resilient performance with strong operating fundamentals amidst a challenging operating environment. Our focus on providing the right consumer value, excellence in execution, increased investments behind brands and capabilities, premiumisation and market development continues to serve us well. Looking forward we expect gradual recovery in market demand to continue aided by increased Government spending, recovery in winter crop sowing and better crop realization. Rural income growths and winter crop yields are key factors that will determine the pace of recovery. In this context, our focus remains on driving competitive volume growth whilst stepping up investment behind our brands and long-term strategic priorities. We remain confident of the mid to long term potential of Indian FMCG sector and HUL remains well positioned to unlock this opportunity whilst navigating the short-term challenges.”