HUL Announces Quarterly Results (2QFY21); Net Profit Up 8.7%

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HUL Announces Quarterly Results (2QFY21); Net Profit Up 8.7%
Wed, 21 Oct

HUL has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

HUL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m98,520105,600114,4208.4%16.1%
Other incomeRs m1,8001,5601,510-3.2%-16.1%
TurnoverRs m100,320107,160115,9308.2%15.6%
ExpensesRs m74,09079,16085,7308.3%15.7%
Gross profitRs m23,96025,26027,88010.4%16.4%
DepreciationRs m2,3702,4202,4902.9%5.1%
InterestRs m3102902900.0%-6.5%
Profit before taxRs m23,08024,11026,61010.4%15.3%
TaxRs m4,6005,3006,52023.0%41.7%
Profit after taxRs m18,48018,81020,0906.8%8.7%
Gross profit margin%24.323.924.4
Effective tax rate%19.922.024.5
Net profit margin%18.417.617.3
* 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 16.1% on a year-on-year (YoY) basis. The expenses were up by 15.7% YoY during the same period.
  • The company's operating profit increased by 16.4% YoY during the quarter. Consequently, operating profit margins remained same and stood at 24.4% in 2QFY21.
  • Depreciation charges increased by 5.1% and finance costs declined by 6.5% YoY, respectively.
  • Other income declined by 16.1% YoY during the quarter.
  • Net profit for the quarter increased by 8.7% YoY. Net profit margins during the quarter declined from 18.4% in 2QFY20 to 17.3% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.3% QoQ during the same period.
  • The company's operating profit increased by 10.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.4% in 2QFY21 as against 23.9% in 1QFY20.
  • Net profit for the quarter increased by 6.8% QoQ, while net profit margins declined from 17.6% in 1QFY20 to 17.3% in 2QFY21.

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 2,106.2 to Rs 2,160.5, registering a Gain of Rs 54.3 or around 2.6%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,073.7 (down 0.2%). Over the last one year it has moved down from 11,929.2 to 11,073.7, a gain of 855 points (down 7.2%).

Overall, the S&P BSE SENSEX is up 5.0% over the year.

Current Valuations

At the current price of Rs 2,160.5, the price to earnings (P/E) ratio of HUL stands at 66.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 56.8 times.

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