Mumbai: FMCG major Hindustan Unilever Ltd (HUL) on Monday posted net profit of Rs 1,848 crore during the July to September quarter, up 21% year-on-year.
The company had posted profit of Rs 1,525 crore in the year-ago period. The board of directors has declared an interim dividend of Rs 11 per share for the year ending March 31, 2020.
HUL's margin expansion was driven by improved mix, benign commodity price movement in large segments and savings agenda, it said in a statement. The earnings before interest, tax, depreciation and amortisation (EBITDA) was up 16% at Rs 2,443 crore. Revenue for the quarter came in at Rs 9,852 crore, up 6.7% year-on-year.
HUL Chairman and Managing Director Sanjiv Mehta said the company has delivered another quarter of resilient performance and sustained margin improvement. "Our focus on consumer value, excellence in execution and market development continues to serve us well," he said.
However, the near-term outlook for demand especially in rural India remains challenging. "We welcome the various measures announced by the government and the Reserve Bank of India to spur investment and improve liquidity, and are confident that the government will take all necessary steps for higher income transference to rural India," said Mehta.
