India's largest consumer packaged goods firm Hindustan Unilever Ltd announced its results for the March quarter 2018 and it recorded a double-digit growth in terms of sales volume.
The company's Net profit surged by 14.2 percent and stood at Rs 1,351 crore for the quarter ending March 31, 2018, as against Rs 1,183 crore during the quarter ending March 31, 2017.
The strong volume growth was driven by its home and personal care segments. The rise in the volume of sales is also attributed to the partial rise in rural demand the company stated in its press release.
HUL's Chairman, Harish Manwani said that "Despite a step-up in competitive intensity, we have delivered another strong performance for the quarter and the year. Growth and improvement in profitability have been sustained through a combination of winning innovations and a relentless focus on operational efficiencies. We are particularly pleased with our track record of sustained margin improvement for the seventh consecutive year."
During the quarter ending March 31, 2018, the Domestic consumer growth was up by 16% with underlying volume growth at 11%. The comparable EBITDA margin was up by 160 bps.
Segment Wise Highlights
• Home Care witnessed double-digit volume growth led by strong performance in Vim.
• Personal Care witnessed broad-based double-digit growth across personal products and personal wash. Growth in skin care was led Ponds and Fair & Lovely, growth in oral care and deodorants was driven by new launches.
• Food section witnessed good growth with Kissan delivering strong growth led by ketchup and Knorr was expanded with new knorr pasta masala.
• Refreshments saw robust growth across categories. With Tea registering double-digit growth and coffee witnessed strong volume-led growth.
• Ice Cream and Frozen Desserts grew in double-digits with the launch of Kwality Walls Sandwich and Cloud Bite variants.
The shares of Hindustan Unilever Limited traded at Rs 1,504.95 down by 0.090% in BSE at 3:57 pm (IST).