HUL Announces Quarterly Results (2QFY20); Net Profit Up 21.2%

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HUL Announces Quarterly Results (2QFY20); Net Profit Up 21.2%
Tue, 15 Oct

HUL has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

HUL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m92,340101,14098,520-2.6%6.7%
Other incomeRs m3,0501,4701,80022.4%-41.0%
TurnoverRs m95,390102,610100,320-2.2%5.2%
ExpensesRs m72,15074,67074,090-0.8%2.7%
Gross profitRs m19,84026,54023,960-9.7%20.8%
DepreciationRs m1,3002,1402,37010.7%82.3%
InterestRs m7024031029.2%342.9%
Profit before taxRs m21,52025,63023,080-9.9%7.2%
TaxRs m6,2708,0804,600-43.1%-26.6%
Profit after taxRs m15,25017,55018,4805.3%21.2%
Gross profit margin%21.526.224.3
Effective tax rate%29.131.519.9
Net profit margin%16.017.118.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 6.7% on a year-on-year (YoY) basis. The expenses were up by 2.7% YoY during the same period.
  • The company's operating profit increased by 20.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.3% in 2QFY20 as against 21.5% in 2QFY19.
  • Depreciation charges increased by 82.3% and finance costs increased by 342.9% YoY, respectively.
  • Other income declined by 41.0% YoY during the quarter.
  • Net profit for the quarter increased by 21.2% YoY. Net profit margins during the quarter increased from 16.0% in 2QFY19 to 18.4% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.8% QoQ during the same period.
  • The company's operating profit declined by 9.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.3% in 2QFY20 as against 26.2% in 1QFY19.
  • Net profit for the quarter increased by 5.3% QoQ, while net profit margins increased from 17.1% in 1QFY19 to 18.4% in 2QFY20.

To see how HUL has performed over the last eight quarters,please visit here.

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HUL Share Price Performance

Over the last one year,HUL share price has moved up from Rs 1,526.6 to Rs 2,035.4, registering a Gain of Rs 508.8 or around 33.3%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,630.0 (up 0.4%). Over the last one year it has moved up from 11,041.5 to 11,630.0, a gain of 589 points (up 5.3%).

Overall, the S&P BSE SENSEX is up 10.0% over the year.

Current Valuations

At the current price of Rs 2,035.4, the price to earnings (P/E) ratio of HUL stands at 66.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 56.0 times.

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