Business news 2022

HUL beats estimates with Rs 2,381-cr net profit

HUL beats estimates with Rs 2,381-cr net profit

Hindustan Unilever (HUL), among the country’s largest fast-moving consumer goods (FMCG) players, beat analysts’ estimates by posting a net profit of Rs 2,381 crore in the June quarter of 2022-23 (Q1FY23).

Revenue on a consolidated basis too was above estimates.

Its net profit (attributable to owners of the company) rose 13.5 per cent year-on-year (YoY) compared with Rs 2,097 crore in the year-ago period. Revenue rose 19.6 per cent YoY to Rs 14,357 crore in Q1 FY23 as against Rs 12,004 crore a year ago.

According to a Bloomberg poll, analysts had estimated revenue at Rs 13,401 crore and net profit at Rs 2,207 crore.

During the quarter, the company took a 12 per cent price increase across its portfolio.

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