Unilever quarterly sales beat estimates as prices surge

Unilever reported an increase of 12.74 per cent in its consolidated net profit at Rs 2,601 crore for the fourth quarter

FMCG major Hindustan Unilever on Thursday reported an increase of 12.74 per cent in its consolidated net profit at Rs 2,601 crore for the fourth quarter ended March 31, 2023.

The company had posted a net profit of Rs 2,307 crore in the January-March quarter of the previous fiscal.

Its revenue from sales during the quarter under review stood at Rs 14,926 crore, up 10.83 per cent, as against Rs 13,468 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.

"HUL delivered strong performance with turnover growth of 11 per cent and underlying volume growth of 4 per cent. Growth was competitive with more than 75 per cent of the business winning market shares," HUL said in its earnings statement.

HUL's total expenses were at Rs 11,961 crore in Q4/FY23, as against Rs 10,782 crore.

Total income of HUL in the March quarter was at Rs 15,375 crore.

For the financial year ended March 31, 2023, HUL's revenue from operations was at Rs 59,443 crore, up 15.49 per cent. It was at Rs 51,472 crore a year earlier.

"In challenging circumstances of geopolitical uncertainties, high commodity inflation and tepid market growths, I am pleased that we have delivered yet another year of strong and resilient performance.

"We have added around Rs 8,000 crore to our topline in this fiscal with volume growth in mid-single digits despite decline in FMCG market volumes," HUL CEO and Managing Director Sanjiv Mehta said.

Shares of HUL on Thursday were trading at Rs 2,475 on BSE, down 1.19 per cent from the previous close.