Hindustan Unilever Q2 net profit up over 13% at Rs914 crore

Hindustan Unilever Ltd's (HUL), the largest manufacturer of household products and consumer goods in India, has reported 13.2 per cent increase in net profit for the second quarter of the 2013-14 financial year, at Rs914 crore, against a profit of Rs807 crore in the year-ago quarter.

The Indian arm of Anglo-Dutch Unilever Plc said in a statement on Saturday that its net sales for the July-September 2013-14 quarter grew 10 per cent to Rs6,747 crore. Sales volume increased 5 per cent during the quarter.

Profit before interest and tax (PBIT) grew by 11 per cent with PBIT margin improving +20 bps. Profit after tax before exceptional items (PAT-bei) grew by 10 per cent to Rs883 crore while net profit at Rs914 crore was up 13 per cent.

The board of directors have declared an interim dividend of Rs5.5 per equity share of face value Re1 each, for the year ended 31 March 2014.

''We have delivered another quarter of competitive and profitable growth. The consistency and resilience of our performance, in what has been a challenging market environment for some quarters now, is a reflection of the discipline with which we are managing our business and executing our strategy. We continue to strengthen our business for the long term by driving innovation, investing behind our brands and further building organizational capabilities,'' HUL chairman Harish Manwani commented.

During the quarter, HUL said its domestic consumer business grew at 10 per cent, ahead of market, driven by 5 per cent underlying volume growth.