business & economics

HUL Reports 7% Increase in Profit As Healthy Essentials See A Demand

BP World Bureau | Jul 22 2020
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Hindustan Unilever (HUL), the consumer goods giant, reported a 7% growth in standalone net profit for the first quarter (April-June) of FY21 at Rs 1,881 crore as the healthy essentials saw demand amid COVID-19 outbreak. 

The company revealed that Health, Hygiene and Nutrition, which constitutes 80% of HUL’s list, saw a growth in sales during the outbreak.

Across all formats,  ‘Skin Cleansing’ led by Lifebuoy’s products saw strong double-digit growth.

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Handwash and hand sanitizers saw a spike in demand and Lifebuoy put across the message regarding the importance of handwashing. 

Business performance of skin, colour cosmetics and deodorants being relatively discretionary in nature was impacted on account of supply issues and channel closure.