HUL’s Q1 net profit up 19%

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Mumbai, July 16 (IANS) FMCG major Hindustan Unilever (HUL) on Monday reported a rise of 19 per cent in its net profit for the quarter ended June 30, 2018.

According to the company, its net profit during the quarter under review rose to Rs 1,529 crore from Rs 1,283 crore reported for the corresponding period of last year.

“We have delivered another strong performance in the quarter, with double digit volume growth across all three divisions and further improvement in margins,” said Sanjiv Mehta, Chairman and Managing Director, Hindustan Unilever.

“This quarter also saw the integration of ‘Foods and Refreshment’ divisions which will help us increase organisational agility and better serve local consumers while harnessing the advantages of global scale.”

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Mehta added: “In the near term, we see gradual improvement in demand and our focus will continue to be on innovations and market development. Crude volatility and currency led inflation are key risks going ahead and we will continue to manage our business dynamically while driving operational efficiencies.”

–IANS

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