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HUL Q2 profit jumps 21% YoY to Rs 1,848 crore; Rs 11 per share dividend announced

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HUL Q2 net profit rises 21% YoY to Rs 1,848 crore
HUL Q2 net profit rises 21% YoY to Rs 1,848 crore
NEW DELHI: Hindustan Unilever on Monday posted a 21 per cent year-on-year (YoY) rise in net profit at Rs 1,848 crore after incorporating the reduction in corporate tax rate. Excluding corporate tax rate benefit, the profit figure came in at Rs 1,832 crore, up 20 per cent.

The numbers beat an ET Now poll estimate of Rs 1,700 crore by a wide margin.

The firm had reported a PAT of Rs 1,525 in the corresponding quarter last year.

The volume growth for the soap maker rose 5 per cent for the quarter compared with a 10 per cent growth in the year-ago quarter.

The revenue for the quarter ended September 2019 stood at Rs 9,852, up 6.69 per cent YoY over Rs 9,234 crore in the same quarter last year.

Ebidta for the quarter came in at Rs 2,443 crore, up 21 per cent YoY. The firm had posted an Ebidta of Rs 2,019 crore in the September quarter last year. After adjusting for change in taxes, Ebidta growth stood at Rs 16 per cent.

The company declared an interim dividend of Rs 11 per share.

Earnings at a glance:
Profit Rs 1,848 crore Up 21%
Revenue Rs 9,852 Up 6.69%
Ebidta Rs 2,443 Up 21%
Dividend Rs 11 per share --

Meanwhile, the company announced the appointment of Willem Uijen as Executive Director, Supply Chain and a member of the HUL Board with effect from January 1, 2020.

Reported Ebitda improvement was 310 bps (200 bps on comparable basis after adjusting for accounting impact of Ind AS 116 on leases). Profit after tax (bei) grew by 20 per cent.

The company said that the near-term outlook for demand especially in rural India remains challenging.

“HUL remains well positioned to unlock the structural FMCG India opportunity while navigating the short-term challenges. We continue to progress our ‘purpose-led and future-fit’ agenda which is underpinned by our sustainability initiatives and ‘Re-imagining HUL’ driven by leveraging data and technology in all aspects of our operations,” it said.
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