FMCG giant Hindustan Unilever Ltd (HUL) has reported a 1.53% decline in consolidated net profit to INR 2,561 crore for the fourth quarter ending on March 31. The company had a net profit of INR 2,601 crore during a similar period in the previous fiscal year, according to a BSE filing.
Nevertheless, according to the regulatory filing, the total income for the quarter rose to INR 15,441 crore, compared to INR 15,375 crore during the corresponding quarter of the previous year.
For the fiscal year ended March 31, 2024, the company’s consolidated net profit stood at INR 10,282 crore. It had posted a net profit of INR 10,143 crore in the fiscal year 2022-23.
In FY24, its total income increased to INR 62,707 crore compared to INR 61,092 crore in FY23.
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Regarding the company’s financial performance, Rohit Jawa, CEO and managing director, stated, “In FY24, we achieved a resilient performance with a 3% USG and surpassed the INR 10,000 crores Net Profit milestone. Our focus remains on enhancing operational excellence, restoring gross margins, and increasing investments in brands and long-term capabilities.”
Jawa also expressed, “Moving ahead, I am optimistic about the gradual improvement in consumer demand, driven by a normal monsoon and enhanced macro-economic indicators. With increasing affluence, relatively lower FMCG consumption, and robust digital infrastructure, I maintain a high level of confidence in the medium to long-term prospects of the Indian FMCG sector.”
Jawa added, “To meet the evolving aspirations of Indian consumers, we have initiated a ‘Transform to Outperform’ journey. Our primary focuses include enhancing our core through unmatched brand superiority, market expansion, premiumization, portfolio optimization for high-growth areas, and leadership in future channels. Leveraging our unique capabilities, we are poised to sustain success in the Indian FMCG sector.”
The company’s shares ended 0.16% down at INR 2,259.15 apiece on the BSE.
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