Hindustan Unilever Q1 profit rise meets industry expectations

Hindustan Unilever Q1 profit rise meets industry expectations

Hindustan Unilever has reported a net profit rise of 19.2 percent year on year to Rs 1,529 crore in the three months ending 30 June, 2018.

Up from Rs 1283 core in the corresponding period last year, the company marginally beat industry expectations of Rs 1,525 crore.

The rise was helped by double digit growth in sales volumes, which rose 12 percent year on year. Revenue rose 11 percent to Rs 9,487 crore.

The Q1 profit rise was the third consecutive quarter of double-digit sales growth for the company, which stated it expects a continued gradual improvement in demand with a focus on innovations and market development.

Quoted in a press release accompanying the earnings filing, Sanjiv Mehta, Chairman and Managing Director at HUL said, “Crude volatility and currency-led inflation are key risks going ahead.”

HUL’s EBITDA rose 21 percent to Rs 2,251 crore with operating margin growing to 23.7 percent.

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