CG major Hindustan Unilever (HUL) has reported an increase of 7.02 per cent in standalone net profit at Rs 1,089.59 crore for the fourth quarter ended March 31, 2016.
According to a report in PTI: The company had posted a net profit of Rs 1,018.08 crore in the January-March quarter of the preceding fiscal.
HUL’s net sales were up 3.36 per cent to Rs 7,809.40 crore during the quarter under review as against Rs 7,555.00 crore in the year-ago period, the company said in a BSE filing.
For the year ended March 2016, HUL’s consolidated net profit was down 6.43 per cent to Rs 4,082.42 crore as against a net profit of Rs 4,363.08 crore last fiscal. Consolidated net sales for FY 2015-16 increased 4.11 per cent to Rs 32,482.72 crore as against Rs 31,199.72 crore a year ago.
During the quarter, the domestic consumer business grew at 4 per cent, with 4 per cent underlying volume growth. Growth in the quarter was impacted by the phasing out of excise duty incentives, a one-time credit for excise duty refund in the base quarter and marginal price de-growth.
During the quarter, revenue from soaps and detergents segment was up 2.14 per cent at Rs 3,752.50 crore, as against Rs 3,673.71 crore a year ago. Volume growth in soaps and detergent was partially offset by price deflation, the company said in a statement.
HUL’s revenue from personal products was up 2.78 per cent at Rs 2,312.42 crore during the fourth quarter, as against Rs 2,249.68 crore in the same period of 2014-15. Packaged foods, however, witnessed double digit growth.
Lower input costs resulted in 240 basis point reduction in cost of goods sold. Profit before interest and tax (PBIT) grew by 11 per cent and PBIT margin improved by 115 basis points.
For the financial year 2015-16, the domestic consumer business grew by 4 per cent with 6 per cent underlying volume growth.