Hind Unilever Q4 net profit up 11% at Rs872 cr

Consumer goods major Hindustan Unilever Ltd has reported a net profit of Rs872 crore for the quarter ended 31 March 2014, a 10.8 per cent increase from Rs787 crore in the year-ago quarter.

Profit before interest and tax (PBIT) grew 11 per cent during the quarter while PBIT margin improved by 30 bps.

Profit after tax before exceptional items PAT grew 7 per cent to Rs832 crore.

Total income of the company during the January-March 2014 quarter stood at Rs7,244 crore, up 10.2 per cent from Rs6,571 crore in the same period last fiscal, the company said in a stock exchange filing.

HUL's revenue from the soaps and detergents business during the quarter increased by 9.57 per cent to Rs3,497.12 crore while sales of personal care products increased by 8.31 per cent to Rs1,983.29 crore.

Revenue from beverages grew 7.54 per cent to Rs869.04 crore while sales of packaged foods increased by 12.71 per cent to Rs419.68 crore.

For the full financial year ended 31 March 2014, the company has posted a net profit of Rs3,867.49 crore, compared with Rs3,796.67 crore for the previous financial year ended 31 March 2013.

Total income increased to Rs28,640.16 crore from Rs26,417.11 crorein the previous year.

The board of directors of the company has recommended a final dividend of Rs7.50 for the financial year ended 31 March 2014, on equity shares of Re1 each.

HUL had, on 15 November 2013, paid an interim dividend of Rs5.50 per share. The total dividend for the period amounts to Rs13 per equity share of face value of Re1 each.

The company has also proposed to appoint BSR & Co. LLP, Chartered Accountants, Mumbai as Statutory Auditors of the company in place of Lovelock & Lewes, the existing auditors of the company at the forthcoming annual general meeting. A special notice was received by the company in this regard from Unilever PLC, as member of the company.

''Against the backdrop of a challenging environment, we have delivered another year of competitive and profitable growth. We stepped up investment behind our brands and innovations, whilst driving cost savings and operational efficiencies with even greater rigour.

"Looking ahead, we are confident that our strategy is on track to deliver sustainable long term growth and margin improvement,'' Harish Manwani, chairman, said.