HUL Announces Quarterly Results (3QFY20); Net Profit Up 11.9%

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HUL Announces Quarterly Results (3QFY20); Net Profit Up 11.9%
Sat, 1 Feb

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

HUL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m95,58098,52098,080-0.4%2.6%
Other incomeRs m1,0601,8001,400-22.2%32.1%
TurnoverRs m96,640100,32099,480-0.8%2.9%
ExpensesRs m75,12074,09073,630-0.6%-2.0%
Gross profitRs m19,84023,96023,460-2.1%18.2%
DepreciationRs m1,3302,3702,320-2.1%74.4%
InterestRs m70310250-19.4%257.1%
Profit before taxRs m19,50023,08022,290-3.4%14.3%
TaxRs m5,0604,6006,13033.3%21.1%
Profit after taxRs m14,44018,48016,160-12.6%11.9%
Gross profit margin%20.824.323.9
Effective tax rate%25.919.927.5
Net profit margin%14.918.416.2
* 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 2.6% on a year-on-year (YoY) basis. The expenses were down by 2.0% YoY during the same period.
  • The company's operating profit increased by 18.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.9% in 3QFY20 as against 20.8% in 3QFY19.
  • Depreciation charges increased by 74.4% and finance costs increased by 257.1% YoY, respectively.
  • Other income increased by 32.1% YoY during the quarter.
  • Net profit for the quarter increased by 11.9% YoY. Net profit margins during the quarter increased from 14.9% in 3QFY19 to 16.2% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.6% QoQ during the same period.
  • The company's operating profit declined by 2.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.9% in 3QFY20 as against 24.3% in 2QFY19.
  • Net profit for the quarter declined by 12.6% QoQ, while net profit margins declined from 18.4% in 2QFY19 to 16.2% in 3QFY20.

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 1,796.3 to Rs 2,086.0, registering a Gain of Rs 289.8 or around 16.1%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,761.5 (up 1.0%). Over the last one year it has moved up from 11,748.3 to 11,761.5, a gain of 13 points (up 0.1%).

Overall, the S&P BSE SENSEX is up 12.6% over the year.

Current Valuations

At the current price of Rs 2,086.0, the price to earnings (P/E) ratio of HUL stands at 66.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 57.4 times.

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