FMCG major Hindustan Unilever on Tuesday posted an over 9 per cent rise in its standalone net profit at Rs 1,283 crore for the April-June period, while some of its business verticals saw a muted quarter due to ‘destocking’ in view of the GST implementation from July 1. The company had posted a standalone net profit of Rs 1,174 crore in the corresponding period of the previous fiscal, Hindustan Unilever ltd (HUl) said in a BSE filing. Net sales during the quarter under review stood at Rs 9,094 crore as against Rs 8,662 crore a year ago, up 4.98 per cent.
Commenting on the results, HUl Chairman Harish Manwani said: “Both growth and margin improvements were delivered through a combination of sustained innovations, a comprehensive savings programme and a relentless focus on execution in the market place.” Its total expense was up 2.89 per cent during the period to Rs 7,476 crore as against Rs 7,266 crore in the first quarter of the last fiscal.
“During the quarter, trade sentiment remained cautious, particularly in the run up to GST implementation. Despite high promotional intensity, stock pipelines remained low and varied across categories, channels and geographies,” HUl said. HUl’s home care segment during the period was up 5.94 per cent to Rs 3,047 crore as against Rs 2,876 crore of the corresponding period last fiscal on account of strong growth across mass and premium laundry.