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HUL Q3 PAT up 19% to Rs 1921 cr

·2-min read

The FMCG major's profit before tax rose 16.46% year-on-year to Rs 2,596 crore in Q3 FY21. EBITDA grew by 16.7% to Rs 2854 crore in Q3 FY21 from Rs 2445 crore in Q3 FY20. EBITDA margins at 24% remain healthy. HUL said it has significantly dialed up investments behind its portfolio and in building future-fit capabilities. Net revenue management and savings agenda has enabled it to drive healthy bottom line.

HUL said that the growth during the quarter was competitive and profitable with reported turnover growth of 20% and profit after tax growth of 19%. Domestic consumer growth (excluding the impact of merger of GSK CH and acquisition of 'VWash') grew at 7%. Higher mobility, consumer relevant innovations and investments behind market development are driving business momentum. HUL said its business fundamentals remained strong with 86% of its business gaining penetration. Health, hygiene and nutrition forming 80% of the portfolio continue to grow in double digits and the company has seen significant improvement in discretionary categories.

Foods & refreshment sustained the high growth momentum growing at 19%. Beauty & personal care grew 9% with robust performance across categories and strong double-digit growths in skin cleansing, hair care and oral care. Household care continued its strong performance across segments delivering double-digit growth.

On a consolidated basis, the FMCG major's net profit rose 18.8% to Rs 1938 crore on 20.57% rise in revenue from operations to Rs 12,181 crore in Q3 FY21 over Q3 FY20.

Sanjiv Mehta, chairman and MD of HUL said, "With COVID cases coming down sharply and increasing mobility, economic activity in the country continues to improve. The rapid rollout of vaccines will give further impetus to economic growth. Our consumer relevant innovations, market development and execution excellence have enabled us to drive broad based growth across our categories in the December quarter. I am particularly pleased with the performance of our Nutrition business and with the recovery in the discretionary segments of our portfolio; these are structurally attractive and offer immense growth potential. The near-term demand outlook is improving, and we expect to see revival in urban while rural should continue to do well. Inflationary pressures are building up in select commodities and we will manage them judiciously. I am confident that we are very well positioned to capture the growth opportunities and accelerate momentum."

Meanwhile, HUL today announced the appointment of Ritesh Tiwari as executive director, finance & chief financial officer and a member of the board, HUL with effect from 1 May 2021, subject to necessary government approvals. He will also take over as the vice president finance, South Asia, Unilever.

Shares of HUL closed 0.34% lower at Rs 2390.75 today. HUL manufactures branded and packaged consumer products including soap, detergent, personal care products and processed food.