HUL Posts Net Profit of Rs 10,623.10mn in Q3

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Hindustan Unilever has posted a net profit of Rs 10,623.10 mn, for the quarter ended December 31, 2013 as compared to Rs 8,713.60 mn for the quarter ended December 31, 2012. Total Income has increased from Rs 67,885.40 mn for the quarter ended December 31, 2012 to Rs 73,660.10 mn for the quarter ended December 31, 2013.

Commenting on the earnings, Harish Manwani, Chairman, HUL, said: “Our growth has been competitive and profitable and the results are a reflection of how we dynamically managed the business despite the headwinds in the environment. Looking forward, we are conscious of the uncertain macro context but remain positive on the mid to long term opportunities in our sector. We are determined to stay the course on our strategy and will continue to invest in the business for the long term.”

During the quarter, the Domestic Consumer business grew at 10 percent, ahead of market, with 4 percent underlying volume growth. Skin Cleansing delivered another quarter of volume led growth. The category performance was driven by Dove, Pears, Lifebuoy and Breeze. The liquids portfolio saw accelerated growth led by Lifebuoy Handwash.

In Laundry, growth was led by the premium segment. Surf growth was buoyed by the robust performance in Surf Excel Easy Wash and Excel Matic while Rin saw good growth on the bars portfolio. Wheel was re-launched with a superior formulation at the end of the quarter. Comfort fabric conditioners continued to lead market development with sustained high growth. Household Care delivered another strong quarter with both Vim and Domex growing in double digits.

The Skin Care segment witnessed growth with the relaunch of Fair & Lovely. Lakme and Dove grew well and the facial cleansing portfolio also registered growth. Hair Care sustained growth with double digit volume growth. Dove led the category performance while Sunsilk, Clinic Plus and TRESemme continued to make good progress. In Oral Care, both Pepsodent and Close Up delivered double digit growth. A&P investments were also stepped up.

Colour Cosmetics maintained growth across both Lakme and Elle 18. Lakme continued to strengthen its position in premium make up driven by Absolute and 9 to 5.

Tea delivered another good quarter with Taj Mahal, Red Label, 3 Roses and Taaza growing in double digits. Packaged Foods also saw a surge while Kissan, Knorr and Kwality Walls grew in double digits

For Kissan, both Ketchups and Jams delivered growth. Knorr had a good quarter particularly on Instant Soups which more than doubled volumes while the growth in Kwality Walls was driven by sharper in-market execution and the strong performance of Cornetto and Creamy Delights.

The company’s Profit Before Interest and Tax (PBIT) grew by 13 percent and PBIT margin improved by 50 bps. Net Profit at Rs 1,062 crores was up 22 percent.

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