Hindustan Unilever (HUL) has reported a 11.5% growth in net profit at Rs 1,096 crore in the second quarter ended September 30, 2016, as compared to Rs 982 crore in the corresponding quarter last year. Sales, however, grew at slow pace of 1.5% to Rs 8,335 crore from Rs 8,213 crore during the period.
The company said during the quarter, in a challenging context where market growth continued to be under pressure, its domestic consumer business grew at 2% and EBITDA margin expanded by 60 basis points (one basis point is equal to one hundredth of a percent). The company said profit after tax before exceptional items grew by 9% to Rs 1,082 crore.
Harish Manwani, chairman, HUL said: "In challenging market conditions, we delivered another quarter of profitable growth. We remain focused on market development, consumer led innovations and an even sharper drive on operating efficiencies. With a good monsoon, we expect a gradual improvement in market demand and remain positive on the mid-long term outlook for the industry. Our strategic agenda of delivering Consistent, Competitive, Profitable and Responsible growth remains unchanged."
Courtesy:- Times of India.
The company said during the quarter, in a challenging context where market growth continued to be under pressure, its domestic consumer business grew at 2% and EBITDA margin expanded by 60 basis points (one basis point is equal to one hundredth of a percent). The company said profit after tax before exceptional items grew by 9% to Rs 1,082 crore.
Harish Manwani, chairman, HUL said: "In challenging market conditions, we delivered another quarter of profitable growth. We remain focused on market development, consumer led innovations and an even sharper drive on operating efficiencies. With a good monsoon, we expect a gradual improvement in market demand and remain positive on the mid-long term outlook for the industry. Our strategic agenda of delivering Consistent, Competitive, Profitable and Responsible growth remains unchanged."
Courtesy:- Times of India.
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