afaqs! news bureau

HUL Q4 results: Ad and promotions spends increase by 23% compared to Q4 of 2023

The total ad spends for the quarter ending on March 31, 2024, was Rs 1,586 crores.

Hindustan Unilever announced its results for the quarter and year ended March 31, 2024. According to the filing, the total ad spends for the quarter ending on March 31, 2024, was Rs 1,586 crores when compared to Rs 1,290 the same period at the same time last year, thereby leading to an increase of 22.9%.

Hindustan Unilever announced a six percent decrease in standalone net income to Rs 2,406 crore for the quarter ending March 31 of the financial year 2023–24 (Q4 FY24). During the same period last year, the company announced a Rs 2,552 crore profit.

According to a filing on BSE, the FMCG company's total revenue increased to Rs 15,441 crore in Q4.

In the fiscal year 2023–24, the overall net profit totalled Rs 10,277, marking a slight 1.5 percent rise from the previous year's reported Rs 10,120 crore.
The company's overall income for FY24 stood at 62,707 crore, showing a growth of 2.64 percent compared to the 61,092 crore recorded in FY23.

The firm's overall costs increased by 2.3 percent to Rs 48,783 crore, compared to Rs 47,683 crore in the previous year. The company declared a dividend of Rs 24 for each share.

HUL's stock price on BSE ended at Rs 2,260.05 on Wednesday, prior to the release of the company's financial results.

As per the press release by the company, Rohit Jawa, CEO and MD commented, "In FY’24 we delivered a resilient performance with 3% USG and crossed Rs. 10,000 crores net profit mark. We remain focused on driving operational excellence and have continued to build back our gross margins whilst stepping up investment in brands and long-term capabilities. 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. To serve the evolving aspirations of Indian consumers, we have embarked on a journey of 'Transform to Outperform'. Our key thrusts of Growing our Core through Unmissable Brand Superiority, Market making and Premiumisation, Re-shaping our portfolio to high growth spaces and Leadership in Channels of future, backed by our distinctive capabilities will enable us to continue winning in the Indian FMCG sector."

Have news to share? Write to us