HUL Q4 net profits at Rs 872 crores; beats street estimates

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HUL Q4 net profits at Rs 872 crores; beats street estimates
Hindustan Unilever: Quotes, News
BSE 851.10BSE Quote10.55 (1.24%)
NSE 851.20NSE Quote10.9 (1.28%)
FMCG giant, Hindustan Unilever (HUL) has reported better than expected Q4 numbers with the net profit for the quarter ending March 2014 coming at Rs 872 crores, against 787.2 crores reported in the corresponding period of last year.

Total income at the company increased to Rs 7094 crores. The volume growth at the company, an eagerly watched number was placed at 3 per cent, which was marginally lower than estimates.

During the quarter, the Domestic Consumer business grew at 9 per cent, ahead of market, with 3 per cent underlying volume growth. In the beverages segment, Tea sustained double digit growth on the back of stepped up volumes. Taj Mahal, Red Label and 3 Roses grew in double digits, driven by a strengthened mix and focused in-market activities. The thrust on leading market development for tea bags saw flavoured and green tea bags more than double sales in the quarter. In Coffee, Bru Gold continued to perform well.

"Skin Care grew well in a soft market. The re-launch of Fair & Lovely, with the new ‘Best Ever Formula' and supported by a focused activation plan, is yielding positive results. Ponds had a good quarter at the premium end while Lakme and Dove sustained their robust performance. The Facial Cleansing portfolio registered broad based growth driven by innovations launched in previous quarters," the company said in a statement.

Harish Manwani, Chairman commented: "Against the backdrop of a challenging environment, we have delivered another year of competitive and profitable growth. We stepped up investment behind our brands and innovations, whilst driving cost savings and operational efficiencies with even greater rigor. Looking ahead, we are confident that our strategy is on track to deliver sustainable long term growth and margin improvement."

The stock of Hindustan Unilever, which was down more than 1 per cent when the results were declared were trading flat on the National Stock Exchange.

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