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HUL Q4FY24 profit drops 6% YoY to Rs 2,406 cr

HUL Q4FY24 profit drops 6% YoY to Rs 2,406 cr

| @indiablooms | 25 Apr 2024, 04:18 pm

Mumbai: Hindustan Unilever Ltd reported a 6% decrease in standalone net profit for the fiscal fourth quarter, amounting to Rs 2,406 crore compared to Rs 2,552 crore in the previous year.

In the financial results declared on Wednesday, the company said its sales for the same period saw a slight increase to Rs 14,693 crore, with a 2.7% decline in revenue noted in the beauty and personal care segment.

The company announced a final dividend of Rs 24 per share for FY24 on equity shares with a face value of Re 1, in addition to an interim dividend of Rs 18 per share paid on November 16, 2023.

The total dividend for FY24 stands at Rs 42 per equity share.

Rohit Jawa, CEO and Managing Director, said: "In FY24 we delivered a resilient performance with 3% USG and crossed Rs 10,000 crores Net Profit mark. We remain focused on driving operational excellence and have continued to build back our gross margins whilst stepping up investment in brands and long-term capabilities. Looking forward, I am optimistic of consumer demand gradually improving due to a normal monsoon and better macro-economic indicators.

"With rising affluence, under-indexed FMCG consumption and a strong digital infrastructure, I remain very confident of the medium to long-term potential of Indian FMCG sector. To serve the evolving aspirations of Indian consumers, we have embarked on a journey of 'Transform to Outperform'.

"Our key thrusts of Growing our Core through Unmissable Brand Superiority, Market making and Premiumisation, Re-shaping our portfolio to high growth spaces and Leadership in Channels of future, backed by our distinctive capabilities will enable us to continue winning in the Indian FMCG sector."

The primary segment of the company, homecare, which includes brands such as Surf Excel and Comfort, saw mid-single-digit percentage volume growth.

This growth was primarily driven by the exceptional performance of Vim liquid.

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