Hindustan Unilever (HUL) has revealed its financial performance for the third quarter of the fiscal year 2023-24, reporting a profit of Rs 2,509 crore. This reflects a modest increase of 1.4 per cent compared to the corresponding quarter in the previous year, where the profit amounted to Rs 2,474 crore.
Despite a marginal drop of 0.2 per cent, the company’s revenue from operations stood at Rs 15,567 crore, down from Rs 15,597 crore in the third quarter of FY23. HUL highlighted the improvement in EBITDA margin to 23.7 per cent, marking a 10-basis-point increase year-on-year.
The CEO and Managing Director, Rohit Jawa, expressed satisfaction with HUL’s resilient performance amid a challenging operating environment.
He emphasised the company’s commitment to providing the right consumer value, executing with excellence, investing in brands and capabilities and focusing on premiumisation and market development. Jawa outlined the factors influencing future prospects, including expectations of gradual market demand recovery driven by increased government spending, recovery in winter crop sowing and better crop realisation.
Jawa identified rural income growth and winter crop yields as key determinants of the pace of recovery. Despite short-term challenges, he reiterated HUL’s confidence in the mid- to long-term potential of the Indian FMCG sector.
The company remains strategically positioned to unlock opportunities while navigating current market dynamics. The CEO concluded by affirming their focus on competitive volume growth, increased investment in brands, and long-term strategic priorities to drive sustained success in the evolving market landscape.
