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HUL’s Q2 net profit up 16 per cent

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FMCG major Hindustan Unilever Limited (HUL) on Wednesday reported a rise of 16.46 per cent in its net profit for the second quarter of 2017-18.

HUL's Q2 net profit up 16 per cent
However, HUL's net sales during the quarter under review inched-down by 1.63 per cent to Rs 8,199 crore from Rs 8,335 crore reported for the Q2 of last fiscal

According to the FMCG major, its net profit during the quarter under review grew to Rs 1,276 crore from Rs 1,096 crore reported for the corresponding quarter of last fiscal.

However, HUL’s net sales during the quarter under review inched-down by 1.63 per cent to Rs 8,199 crore from Rs 8,335 crore reported for the Q2 of last fiscal.

“While transition to GST impacted trade purchases in early part of the quarter, consumer offtake remained stable,” the company said in a statement.

“Trade conditions continue to improve and the wholesale channel is steadily normalising.”