Results for Hindustan Unilever's Q2 Fiscal Year 24: Net profit of Rs. 2,657 crore; income up 3%
Hindustan Unilever Limited (HUL) said in a BSE filing that its consolidated net profit for the second quarter of the current fiscal year (Q2FY24) decreased by 0.48 percent to Rs 2,657 crore from Rs 2,670 crore for the comparable period of the previous year. The net profit increased by 3.95 percent sequentially. The company's net profit in Q1FY24 was Rs 2,556 crore.
An interim dividend of Rs. 18 per equity share was declared by the firm.
The overall revenue for Q2FY24 was Rs 15,806 crore, up from Rs 15,253 crore year over year. The increase is 3.62 percent. The overall revenue increased by 0.81 percent year over year. In Q1FY24, it was Rs 15,679 crore. Also Read: South Indian Bank Q2 earnings: Net profit increases by more than 23% to Rs. 275 cr.
The firm said that its overall revenues increased by 3% to Rs 15,364 crore in a press statement.
The chief executive officer and managing director of the company, Rohit Jawa, said that the demand for FMCG products "...is projected to continue a steady recovery with tailwinds from the impending holiday season, continuing buoyancy of services, and government's emphasis on capex. The influence of the monsoon on agricultural production and reservoir levels, as well as the erratic nature of the world's commodities prices, must all be taken into consideration. In this regard, our priorities are to provide our customers great value, to promote volume growth that is competitive, and to support our brands. Additionally, read IndusInd Bank's Q2 results: Net profit up 22% on NII growth, modest provision.
On Thursday, shares of Hindustan Unilever Limited ended at Rs 2,550.
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