HUL posts 1.4% rise in profit at Rs 39,136 crore in FY20

Hindustan Unilever Limited (HUL) on Thursday posted a 1.4 per cent rise in revenue (sale of products) at Rs 39,136 crore in complete FY20  as against Rs 38,579 crore for last fiscal.  The net profit (attributable to owners of the company) was Rs 6,748 crore as against Rs 6,054 crore for last financial year. India's largest consumer goods maker recommended a final dividend of Rs 14 for the financial year ended March, 2020 on equity shares of Re 1 each.

In Q4FY20, the profit fell 1.2 percent year-on-year to Rs 1,519 crore in the quarter ended March. The company's revenue fell 9.4 percent to Rs 9,011 crore as against the Rs 10,103 crore.The sales volumes fell 7 per cent. In March quarter, the domestic consumer growth fell by 9 per cent with a decline of 7 per cent in underlying volume growth, the company said. The reported EBITDA margin reduced by 40 bps.

"COVID-19 is perhaps the biggest challenge for us both from the lens of sustaining lives as well as livelihoods. The human impact of the pandemic is uncertain, and we are fully committed to working with the Government and our partners to ensure that we overcome this crisis together. Our portfolio of trusted brands, our financial stability and quality of leadership teams positions us well to deal with the crisis and, for the changing world that will come afterwards. With the GSK CH merger effective from 1st April, iconic brands such as Horlicks and Boost will now enable us to also address the nutrition needs of consumers. Our approach will be to protect our business model, grow competitively and contribute to the nation," Sanjiv Mehta, Chairman and Managing Director, HUL, said.

HUL shares ended the intraday trade at Rs 2,205, down 26.75, or 1.20 per cent on NSE.

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