Hindustan Unilever Limited (HUL) has reported standalone net profit at Rs 2,552 crore for the March quarter of FY23, registering a growth of 9.66 percent from Rs 2,327 crore in the same quarter of the previous financial year.
Total revenue came in at Rs 15,053 crore, rising 10.81 percent from Rs 13,584 crore in the year-ago quarter, the FMCG major’s said in a regulatory filing.
Profit was largely in-line but revenue missed the mark. Estimates suggested price-hike led revenue growth at 9 percent and volume growth at 5 percent. In the previous quarter, too, volume growth was 5 percent.
The company’s Board also recommended a final dividend of Rs 22 for the financial year ended 31st March, 2023. The Company had earlier paid an interim dividend of Rs 17 per share on 17th November, 2022.
In the near term, the company said there is the right price-value equation present for competitive volume growth. The company is also working in building gross margins and stepping up investment in advertising and promotions. In the mid to long term, HUL said its value creation model remains unchanged. It is aiming to increase topline with modest margin expansion and prudent capital discipline.
