Hindustan Unilever announced its results for the quarter and year ended March 31, 2024. HUL ad and promotions spends increased to hit Rs 1616 crore in Q4. In the corresponding quarter in 2023 the advertising spends stood at Rs 1311 crore. For the year ended March 31, 2024, HUL recorded Rs 6489 crore in advertising and promotions expenses.
Hindustan Unilever Ltd on April 24 reported 6% fall in standalone net profit at Rs 2,406 crore for the fiscal fourth quarter as against Rs 2,552 crore in the year-ago period. HUL’s sales rose only marginally to Rs 14,693 crore in the fourth quarter, with revenue in a key segment, beauty and personal care, declining 2.7%.
The Company’s turnover for the financial year ended 31st March, 2024 was Rs. 59,579 crores as against turnover of Rs. 58,154 crores for the financial year ended 31st March, 2023.
CEO and MD Rohit Jawa said, “Looking forward, I am optimistic of consumer demand gradually improving due to a normal monsoon and better macro-economic indicators. With rising affluence, under-indexed FMCG consumption and a strong digital infrastructure, I remain very confident of the medium to long-term potential of Indian FMCG sector.”
The Beauty and Personal Care segment saw USG shrink by 2 percent on flat volumes, notwithstanding HUL’s premium portfolio growing ahead of the rest.
Home Care grew 1 percent with mid-single digit UVG. Both Fabric Wash and Household Care grew volumes in mid-single digit driven by strong performance in premium portfolio. The category continued to witness YoY price decline on account of actions taken during the year, it said.
Foods and Refreshment had a USG of 4 percent with flat volume growth. According to a filing on BSE, the FMCG company’s total revenue increased to Rs 15,441 crore in Q4.