Hindustan Unilever Ltd (HUL) reported a 6% decline in standalone net profit for the March 2024 quarter, amounting to ₹2,406 crore, down from ₹2,552 crore a year earlier. This fell short of the expected ₹2,462 crore. The company also declared a final dividend of ₹24 per share.
Operational revenue for the quarter marginally increased to ₹14,693 crore from ₹14,638 crore in the same period last year. In contrast, consolidated total revenue in Q3 FY24 was slightly down by 0.15% at ₹15,781 crore from ₹15,806 crore in the previous quarter.
In the Foods and Refreshments sector, underlying sales grew by 4%. This included flat volume growth in the sector, with Functional Nutritional Drinks like Horlicks and Boost seeing high-single digit growth, mainly from the Plus range. Tea strengthened its market leadership while coffee achieved double-digit growth through strategic pricing.
Foods sector saw mid-single digit growth, propelled by strong performances in Soups and Food Solutions. Additionally, Ice Cream sales grew in double digits due to volume increases, supported by new launches such as Cadbury Crackle Feast and Mango Duet, anticipating the ice cream season.
HUL’s brand performance was notable with Surf Excel and Brooke Bond generating over ₹5,000 crore each. Other major contributors included Dove, Pond’s, and Lifebuoy with over ₹2,000 crore each, while brands like Boost, Sunsilk, and Vaseline are nearing the ₹1,000 crore mark.
