HUL Q2 net profit grows 21.2% to Rs 1,848 crore, beats estimates

This is the third straight quarter when HUL posted single-digit volume growth

Hindustan Unilever (HUL) reported a 21.2 per cent year-on-year growth in net profit to Rs 1,848 crore for the July-September quarter (Q2) of FY20. Growth was aided by lower corporation tax, which came into effect last month. The Bloomberg consensus estimate had pegged net profit at Rs 1,802 crore. 

For Q2, HUL’s corporate tax rate was 22 per cent versus 30.5 per cent in FY19. On a full-year basis, the effective corporation tax rate would be 27 per cent, HUL’s Chief Financial Officer Srinivas Pathak said, after taking into account an average for the four quarters. But volume growth for