This Article is From Jul 21, 2020

Hindustan Unilever June Quarter Profit Rises 7% To Rs 1,881 Crore

Hindustan Unilever's earnings before interest, tax, depreciation and amortization (EBITDA) or operating for the quarter was flat at Rs 2,644 crore

Hindustan Unilever June Quarter Profit Rises 7% To Rs 1,881 Crore

Fast moving consumer goods giant - Hindustan Unilever - post market hours on Tuesday - reported a 7.17 per cent annual increase in net profit to Rs 1,881 crore in April-June quarter. The company had reported profit of Rs 1,755 crore in the same quarter last year. Hindustan Unilever's revenue from operations rose 4.2 per cent to Rs 10,406 crore during the quarter under review.

Earnings before interest, tax, depreciation and amortization (EBITDA) or operating profit for the quarter was flat at Rs 2,644 crore, while the EBITDA margin or operating profit margin declined by 110 basis points, Hindustan Unilever said in a filing to the exchanges.

"Our performance in the quarter has been resilient and reflective of the intrinsic strength of our portfolio, agility in operations, excellence in execution, purpose-driven leadership and our strong balance sheet," Sanjiv Mehta, chairman and managing director at Hindustan Unilever said in a statement.

"While constraints due to restrictions in several parts of the country and the near-term demand outlook remains uncertain, we remain well positioned to drive competitive, profitable and reasonable growth. The long term structural opportunity of FMCG in India also remains intact," Mr Mehta added.

Hindustan Unilever shares ended 0.5 per cent lower at Rs 2,319, underperforming the Sensex which rose 1.4 per cent.