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The Silicon Review Asia

Home care, food & beverage boost Q2 revenue for Hindustan Unilever (HUL): Key takeaways

Home care, food & beverage boost Q2 revenue for Hindustan Unilever (HUL): Key takeaways

Hindustan Unilever, one of the most beautiful and most famous manufacturing companies share percent, has given healthy year-on-year growth in profit amidst demand slowdown because of the company's homecare, food, and refreshment products are received well in the market.

Though the company saw a slowdown in its growth percent and profit figure due to the corporate tax rate, it posted a 21 percent year-on-year (YoY) rise in net profit at Rs 1,848 crore after incorporating the reduction in the corporate tax rate. Excluding corporate tax rate benefit, the profit figure would be Rs 1,832 crore, up 20 percent. The numbers beat analysts' profit estimate of Rs 1,700 crore made.

Volume growth slowed to 5 percent for the quarter compared with a 10 percent expansion in the year-ago quarter. But, the food and refreshment division grew 8.3 percent to Rs 1,847 crore thanks to growth in the sale of beverages, ice-cream, frozen desserts initiatives, and the Kissan line of products. The Board of Directors declared an interim dividend of Rs 11 per share for the year ending March 31, 2020.

Hindustan Unilever (HUL) has also appointed Willem Uijen as Executive Director, Supply Chain, and a member of the HUL Board with effect from January 1, 2020. He will replace Pradeep Banerjee, who is retiring. Mr. Willem stated that he would try his best to take the company forward and make it a global brand.

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