HUL Q4 net rises 7%

HUL Q4 net rises 7%

HUL Q4 net rises 7%

FMCG major Hindustan Unilever posted a 7% rise in standalone net profit for the fourth quarter at Rs 1,089.59 crore, as against Rs 1,018.08 crore, in the comparable period.

Net profit was up 7% with the growth rate impacted by the higher exceptional income arising from the sale of subsidiary in the base quarter, the company said.

Net sales for the company were up 3.36% to Rs 7,809.40 crore during the reported quarter compared to Rs 7,555 crore in Q4FY15.

Lower input costs resulted in 240 bps reduction in cost of goods sold. Brand investments were sustained at competitive levels; overall advertising and promotion spends was up by Rs 65 crore (+40 bps). Profit before interest and tax (PBIT) grew by 11% and PBIT margin improved by 115 bps.

During the quarter, the domestic consumer business grew at 4%, with 4% underlying volume growth. Growth in the quarter was impacted by the phasing out of excise duty incentives, a one-time credit for excise duty refund in the base quarter and marginal price de-growth, the company said.

“In challenging markets and a deflationary cost environment, we have delivered another year of competitive and profitable growth. The consistency of our performance is a result of managing our business dynamically, and executing our strategy with even greater rigour and discipline,” HUL Chairman Harish Manwani said.

“Our sustained focus on investing behind brands, sharpening our executional capabilities and driving market development has enabled us to keep winning with consumers in a rapidly changing market,” Manwani added.

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