Net sales for the June quarter came in at Rs 93.56 billion, growing 11.37% year over year.
Share Market News » The country’s largest consumer goods company, Hindustan Unilever (HUL), reported a 19.17 per cent year-on-year increase in net profit on Monday for the April-June 2018 quarter (Q1 FY19), as double-digit sales volume growth continued for the third straight quarter, aided by a lower year-ago base.
Net profit at Rs 15.29 billion was in line with Bloomberg consensus estimates, which came in at Rs 15.40 billion. Revenue, which is net sales plus other operational income, missed Street estimates, however, growing 11.2 per cent year over year to Rs 94.87 billion. Bloomberg consensus estimates had pegged revenue at Rs 96.69 billion for the June quarter. Net sales for the June quarter came in at Rs 93.56 billion, growing 11.37 per cent year over year.
After adjusting for exceptional items, June quarter profit rose 22.5 per cent year over year to Rs 15.88 billion (from Rs 12.96 billion last year), with the stock touching a new high of Rs 1,770 on Monday on the BSE, before settling at Rs 1,753.85, up 0.73 per cent over Friday’s close.
June quarter volume growth at 12 per cent was in line with Street estimates, though it was marginally ahead of 11 per cent posted by the company in December 2017 and March 2018 quarters, respectively.
Kaustubh Pawaskar, senior research analyst at Mumbai-based brokerage Sharekhan, said, “The double-digit volume growth (for the June quarter) is certainly the big highlight and can be attributed to uptick in rural demand as well as strong traction for launches. With rural consumption improving, we expect volume growth momentum to sustain in the coming quarters.”
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