HUL Q1 net down 2.7% at Rs 543 cr

FMCG major Hindustan Unilever (HUL) today reported a fall of 2.69 per cent in its first quarter net profit at Rs 543.19 crore as against Rs 558.18 crore during the corresponding period last fiscal.

The company, however, reported a growth of 7.77 per cent in its net sales at Rs 4,475.68 crore during the quarter ended June 30, as compared to Rs 4,152.84 crore during the same period last year, HUL said in a statement.

The company's domestic FMCG business grew by 12.80 per cent during the period under review to Rs 4,148.66 crore as against Rs 3,677.92 crore during the first quarter last year.

HUL's home and personal care segment reported sales of Rs 3,405.82 crore during the first quarter, registering growth of 11.87 per cent over the figure of Rs 3,044.53 crore reported during the same period of last fiscal.

Its foods segment business jumped by 17.28 per cent to Rs 742.84 crore during the quarter ended June 30, compared to Rs 633.39 crore reported during the corresponding period last fiscal.

In the exports segment the company registered a significant fall of 34.72 per cent to Rs 255.58 crore for the first quarter as against Rs 391.51 crore during quarter one of 2008-09.

HUL's other incomes also fell by 14.35 per cent to Rs 71.44 crore during Q1 of this fiscal compared to Rs 83.41 crore during the same period of last fiscal.

"We have taken decisive actions to strengthen our competitiveness and execution capabilities in the marketplace. These have started to show positive results with good volume recovery in personal products and foods," HUL Chairman Harish Manwani said.

He said significant cost effectiveness has helped improve operating margins and the company will continue to focus on profitable growth.