HUL Q2 net profit grows 22% to ₹2,670 crore

Board declares interim dividend of ₹17 per share

Hindustan Unilever Ltd.’s (HUL) second-quarter net profit grew 22% to ₹2,670 crore on account of better margins and market-share growth in 75% of its product portfolio.

Total sales rose 16% to ₹14,896 crore.

“We continue to manage our business dynamically driving savings harder across all lines of P&L, investing competitively behind our brands and ensuring right price-value equation,” the company said.

The Board of Directors has declared an interim dividend of ₹17 per share for year ending 31, March 2023.

Sanjiv Mehta, CEO and MD, HUL said, “Building on our strong momentum we have delivered yet another quarter of solid all-round performance. In H1 2022-23 we have added an incremental turnover of more than ₹4,000 crore. 

“Our consistent performance is reflective of our strategic clarity, strength of our brands, operational excellence, and dynamic financial management. We continue to make excellent progress on our ‘Reimagine HUL’ agenda.”.

He said the demand environment remained challenging with inflation impacting consumption. However, with softening in some commodities and monetary/ fiscal measures taken by the government, the company was cautiously optimistic in the near-term.