FMCG major Hindustan Unilever Ltd on Friday reported a 22.19 per cent rise in its consolidated net profit to Rs 2,670 crore for the second quarter ended September 30, mainly helped by volume growth.
The company had posted a net profit of Rs 2,185 crore in the July-September quarter of the previous fiscal.
Its total income increased 16.44 per cent during the quarter under review to Rs 15,253 crore. It was Rs 13,099 crore in the year-ago period, Hindustan Unilever Ltd (HUL) said in a regulatory filing.
The company delivered an "underlying volume growth of 4 per cent" during the July-September quarter.
"Growth was significantly ahead of the market with more than 75 per cent of the business winning value and volume market share," said HUL in its earning statement.
Its total expenses rose 18.12 per cent to Rs 11,965 crore compared to Rs 10,129 crore in the second quarter of the last fiscal.
HUL CEO and Managing Director Sanjiv Mehta said: "Building on our strong momentum, we have delivered yet another quarter of solid all-round performance. In H1 2022-23, we have added an incremental turnover of more than Rs 4,000 crore. Our consistent performance is reflective of our strategic clarity, the strength of our brands, operational excellence, and dynamic financial management".
The demand environment remains challenging with inflation impacting consumption, he added.
"However, with softening in some commodities and monetary/ fiscal measures taken by the government, we are cautiously optimistic in the near term. In this scenario, we will manage our business with agility, and continue to grow our consumer franchise whilst maintaining our margins in a healthy range," he said.
HUL remains confident of the medium to long-term potential of the Indian FMCG sector and HUL’s ability to deliver consistent, competitive, profitable and responsible growth, he added.
Shares of HUL on Friday settled at Rs 2,655.05 apiece on BSE, up 2.11 per cent from the previous close.