As India's largest consumer goods company continues to recover from the pandemic-related disruption, Hindustan Unilever Ltd.'s quarterly profit surpassed expectations and volumes increased.
For the quarter ended March 31, 2021, HUL posted a 41% increase in net profit to Rs. 2,143 crore, boosted by a 16 percent increase in volume. Its profit margins were 25%, while its turnover increased by 34%.
The Company's turnover for the financial year ended 31st March 2021 was Rs. 45,311 crores, compared to Rs. 38,273 crores for the previous financial year.
"Health, hygiene, and nutrition forming 80 percent of business grew in double-digits for the third consecutive quarter, while discretionary and out-of-home categories improved sequentially," said the company in its BSE filing.
The profit before tax was Rs. 10,490 crores, up from Rs. 9,092 crores the year before. Depreciation and amortization were Rs. 1,012 crores for the year, compared to Rs. 938 crores the previous year.
For the fiscal year ending March 31, 2021, a final dividend of Rs. 17.00 per share of the face value of Re. 1/- each is recommended. The cumulative dividend for the financial year ended 31st March 2021 amounts to Rs. 31.00 per share of the face value of Re. 1/- each, including the interim dividend of Rs 14.00 per share paid on the 12th November 2020.
On the 17th of August 2020, a special dividend of Rs 9.50 per share was also paid during the year. The payment of the final dividend is contingent on shareholder approval.
In Q4FY21, the beauty and personal care market grew by 19.7% year on year to Rs 4,549 crore, with earnings before interest and tax (EBIT) rising by 32.5 percent to Rs 1,252 crore.
Compared to the previous year, consolidated profit increased by 18.4 percent to Rs 7,999 crore, and revenue increased by 18.2 percent to Rs 47,028 crore in FY21, the COVID year. "We successfully navigated the COVID challenges and maintained good cash generation," HUL said.