Hindustan Unilever released its financial results for the quarter and fiscal year ending March 31, 2024. In Q4, HUL’s spending on advertising and promotions surged to Rs 1616 crore, marking a notable increase from Rs 1311 crore in the corresponding quarter of 2023. For the entire fiscal year ending March 31, 2024, the company’s advertising and promotions expenses totalled Rs 6489 crore.
On April 24, Hindustan Unilever Ltd reported a 6% decline in standalone net profit for the fiscal fourth quarter, amounting to Rs 2,406 crore compared to Rs 2,552 crore in the previous year’s period. HUL’s fourth-quarter sales experienced only a marginal increase to Rs 14,693 crore. Notably, revenue in the beauty and personal care segment witnessed a decline of 2.7%.
For the fiscal year ending March 31, 2024, the company’s turnover reached Rs. 59,579 crores, compared to Rs. 58,154 crores in the previous fiscal year.
CEO and MD Rohit Jawa expressed optimism regarding the gradual improvement in consumer demand, citing factors such as a normal monsoon and better macro-economic indicators. He emphasized the strong potential of the Indian FMCG sector in the medium to long term, fueled by rising affluence, under-indexed FMCG consumption, and a robust digital infrastructure.
Despite challenges, the Beauty and Personal Care segment-maintained resilience, with a 2% decline in underlying sales growth (USG) despite flat volumes. Home Care experienced a 1% growth with mid-single digit underlying volume growth (UVG). Both Fabric Wash and Household Care witnessed mid-single-digit volume growth, driven by a robust performance in the premium portfolio.
In the Foods and Refreshment segment, there was a 4% increase in USG with flat volume growth. According to BSE filings, the company’s total revenue surged to Rs 15,441 crore in Q4.