Hindustan Unilever Q1 profit up 9% to Rs 1,283 cr

FMCG major Hindustan Unilever today posted an over 9 per cent rise in its standalone net profit at Rs 1,283 crore for the April-June period, while some of its business verticals saw a muted quarter due to 'destocking' in view of the GST implementation from July 1.
The company had posted a standalone net profit of Rs 1,174 crore in the corresponding period of the previous fiscal, Hindustan Unilever Ltd (HUL) said in a BSE filing.
Net sales during the quarter under review stood at Rs 9,094 crore as against Rs 8,662 crore a year ago, up 4.98 per cent.

Commenting on the results, HUL Chairman Harish Manwani said: "Both growth and margin improvements were delivered through a combination of sustained innovations, a comprehensive savings programme and a relentless focus on execution in the market place."
Its total expense was up 2.89 per cent during the period to Rs 7,476 crore as against Rs 7,266 crore in the first quarter of the last fiscal.
"During the quarter, trade sentiment remained cautious, particularly in the run up to GST implementation. Despite high promotional intensity, stock pipelines remained low and varied across categories, channels and geographies," HUL said.

HUL's home care segment during the period was up 5.94 per cent to Rs 3,047 crore as against Rs 2,876 crore of the corresponding period last fiscal on account of strong growth across mass and premium laundry.

"Surf, our largest brand, maintained its robust volume- led growth momentum. However, the water business witnessed a muted quarter due to lower trade purchases and destocking before GST implementation," the company said.
In the personal wash segment, HUL had a growth of 3.45 per cent to Rs 4,368 crore as against Rs 4,222 crore.
"Personal wash witnessed broad-based growth across all brands. Colour cosmetics delivered yet another quarter of robust growth. Fair&Lovely relaunch was well received," it said.
In the food segment, HUL's revenue was at Rs 284 crore, up 4.41 per cent, as against Rs 272 crore.
While, in the refreshment category, HUL clocked a revenue of Rs 1,346 crore, against Rs 1,215 crore in the corresponding quarter a year ago, as the segment witnessed broad-based volume led growth.

"In tea, double-digit growth was sustained by continuing to leverage our differentiated portfolio across different parts of India. Coffee and Ice Cream and Frozen Desserts also delivered a robust quarter," said HUL.
HUL's total income during the quarter under review stood at Rs 9,335 crore as against Rs 8,910 crore a year earlier, up 4.76 per cent, the company said.
On the outlook, Manwani said: "We remain positive on the medium-term outlook for the industry and will continue to drive consumer value, which also delivers profitable volume driven growth for the company."
HUL shares today settled at Rs 1,158.20, up 0.47 on the BSE.