THE WHAT? Hindustan Unilever has published its results for the quarter ended December 31, 2022. The Indian FMCG behemoth saw sales increase 16 percent during the quarter to Rs 14,986 crore while earnings grew 8 percent and profit was up 13 percent.
THE DETAILS Beauty and Personal Care revenue was up 10 percent with skin cleansing delivering double digit growth, although Home Care was the star of the show with 32 percent revenue growth. Food & Refreshments put on a solid 7 percent.
THE WHY? Sanjiv Mehta, CEO and Managing Director commented, “Sustaining our strong momentum, we had yet another quarter of solid all-round performance delivering double-digit revenue and earnings growth. Our consistent performance is reflective of our strategic clarity, strength of our brands, excellence in execution, and dynamic financial management. I am excited about our foray into the fast evolving ‘Health and Wellbeing’ category through our strategic partnerships with OZiva and Wellbeing Nutrition. Our sustainable community development initiative, Prabhat, turned nine this year. Through Prabhat, we have made a positive difference to nearly nine million people in the communities around our factories and depots. Looking forward, we are cautiously optimistic in the near term and believe that the worst of inflation is behind us. This should aid in a gradual recovery of consumer demand. We remain focused on managing our business with agility, continue growing our consumer franchise whilst maintaining margins in a healthy range. We stay confident of the medium to long term potential of Indian FMCG sector and HUL’s ability to deliver a consistent, competitive, profitable and responsible growth.”