HUL | Q1FY23 Results FMCG giant Hindustan Unilever Ltd (HUL) reported a 14 percent year-on-year (YoY) jump in net profit and a 20 percent YoY increase in net revenue, according to media reports.
HUL benefitted because of two factors -- gains in various categories and a jump in sales by volume despite the reduced weight of some packaged products.
HUL's market share grew in over 75 percent of its portfolio during the quarter even as consumers moved to cheaper and non-branded products.
Sales volumes surged 6 percent YoY even as it reduced the weights of many of its packaged products to protect margins due to steep inflation in commodities.
According to a MonytControl report, its consolidated net profit stood at Rs 2,391 crore in the June quarter (Q1), a growth of 13.85 percent YoY over the Rs 2,100 crore profit it posted in the same period last year. The company's revenue rose 19.46 percent YoY to Rs 14,331 crore.
EBITDA margin in the period under review was 23.2 percent and dropped by 110 basis points YoY and 144 basis points QoQ., it added.
The gross margin dropped 327 basis points YoY and 212 basis points Q-o-Q.
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