Hindustan Unilever Reports 13 Percent Increase in Net Profit
FMCG major Hindustan Unilever has reported 13 percent increase in second quarter net profit at Rs 914 crore. The company registered five percent growth in volume and managed to deliver good results despite pressure on margins in FMCG sector.
HUL registered 6 percent growth in Soaps & Detergents segment. The sales of personal products were higher by 12 percent during the quarter. The company re-launched Fair & Lovely cream. The company markets variety of personal products under brand name of Dove, LifeBuoy, Breeze, Lux, Lakme and Ponds.
HUL also introduced TRESemme range in Indian market with shampoo and hair conditioning products. The company is betting on hair care market which is growing at faster pace in India.
The board of directors has declared Rs 5.5 per share interim dividend for year ending March 2014. The profit before interest and tax was higher by 11 percent. HUL managed to register increase in margins even when the Indian consumers are holding back on spending due to high inflation in the country.