Hindustan Unilever reported 11% rise in standalone net profit to Rs 2,289 crore on a 19% increase in revenue from sale of products to Rs 14,016 crore in Q1 FY23 over Q1 FY22.
The company recorded an underlying volume growth of 6%.
As per Nielsen FMCG market share report May 2022, HUL continued to grow significantly ahead of the market, gaining value and volume market shares.
Profit before tax in Q1 FY23 stood at Rs 3,086 crore, up by 17% from Rs 2,633 crore in Q1 FY22. EBITDA margin at 23.2% remained healthy despite unprecedented inflationary headwinds.
Home Care delivered 30% growth driven by strong performance in Fabric Wash and Household Care. Beauty & Personal Care growth of 17% was broad based. Foods & Refreshment grew 9% driven by solid performance in Ice-cream, Coffee and Food Solutions.
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Sanjiv Mehta, CEO and managing director, commented: In an environment which remains challenging, marked by unprecedented inflation and consequential impact on consumption, we have delivered yet another quarter of robust topline and bottom-line performance.
We have grown competitively whilst protecting our business model by maintaining margins in a healthy range. While there are near term concerns around inflation, the recent softening of commodities, forecast of a normal monsoon, and monetary/ fiscal measures taken by the government augur well for the industry.
HUL today announced the appointment of Yogesh Mishra as executive director, Supply Chain, HUL and head - Supply Chain, Unilever South Asia with effect from 1 September 2022. Yogesh takes over from Willem Uijen who has been elevated as the chief procurement officer for Unilever, globally.
Yogesh who is currently the vice president - Supply Chain, Beauty & Personal Care, joined HUL in 1990 and over the last 32 years, has had a strong performance track record across various roles in manufacturing, quality, planning and technology.
HUL is India's largest fast moving consumer goods company. Shares of HUL rose 0.52% to settle at Rs 2566 on the BSE today.
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