Hindustan Unilever Ltd Q2 net profit drops by 2 percent to Rs 2,591 crore

Fast moving consumer goods giant Hindustan Unilever Ltd (HUL) witnessed a 2 percent decline in consolidated net profit to Rs 2,591 crore ($308.2 million) for the second quarter ended September 30, as against Rs 2,668 crore in the same quarter a year ago.

The company’s revenue for the quarter rose marginally to Rs 15,926 crore, as against Rs 15,623 crore in the corresponding quarter of the previous fiscal year.

HUL’s personal care segment’s revenue dropped by 5 percent due to negative pricing and low-single digit volume decline.

Commenting on the results, Rohit Jawa, managing director CEO at HUL in a statement said, “In the September quarter, FMCG demand witnessed moderating growth in urban markets, while rural areas continued to recover gradually. In this context, we delivered a competitive and profitable performance.”

“We remain watchful of the gradual recovery in consumer demand while creating a sustained competitive advantage through our business fundamentals of investing behind our aspirational brands, scaling market-making innovations, and maintaining operational rigour,” he added.

Hindustan Unilever is the country’s largest consumer goods company with a strong presence in the beauty and personal care segment.