Shares of FMCG major Hindustan Unilever (HUL) gained in the morning trade post Q2FY20 numbers. The company’s consolidated net profit rose 21% at Rs1,848cr after incorporating the reduction in the Corporate Tax rate. The company’s revenue was up 6.7% to Rs9,852cr.
Domestic Consumer Growth was 7% with Underlying Volume Growth at 5%, the company said.
EBITDA stood at Rs2,443cr was up by 21% (16% on a comparable basis after adjusting for the accounting impact of Ind AS 116).
The company’s margin expansion was driven by improved mix, benign commodity price movement in the large segments and our savings agenda, the company stated.
The Board of Directors has declared an interim dividend of Rs11 per share for the year ending March 31, 2020.
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