HUL Announces Quarterly Results (3QFY21); Net Profit Up 18.9%

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Markets will remain closed on 14th April, 2021 on account of Dr. Baba Saheb Ambedkar Jayanti.

HUL Announces Quarterly Results (3QFY21); Net Profit Up 18.9%
Thu, 28 Jan

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

HUL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m98,080114,420118,6203.7%20.9%
Other incomeRs m1,4001,510970-35.8%-30.7%
TurnoverRs m99,480115,930119,5903.2%20.2%
ExpensesRs m73,63085,73090,0805.1%22.3%
Gross profitRs m23,46027,88028,1200.9%19.9%
DepreciationRs m2,3202,4902,7209.2%17.2%
InterestRs m25029041041.4%64.0%
Profit before taxRs m22,29026,61025,960-2.4%16.5%
TaxRs m6,1306,5206,7503.5%10.1%
Profit after taxRs m16,16020,09019,210-4.4%18.9%
Gross profit margin%23.924.423.7
Effective tax rate%27.524.526.0
Net profit margin%16.217.316.1
* 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 20.9% on a year-on-year (YoY) basis. The expenses were up by 22.3% YoY during the same period.
  • The company's operating profit increased by 19.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 23.7% in 3QFY21.
  • Depreciation charges increased by 17.2% and finance costs increased by 64.0% YoY, respectively.
  • Other income declined by 30.7% YoY during the quarter.
  • Net profit for the quarter increased by 18.9% YoY. Net profit margins during the quarter declined from 16.2% in 3QFY20 to 16.1% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.1% QoQ during the same period.
  • The company's operating profit increased by 0.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.7% in 3QFY21 as against 24.4% in 2QFY20.
  • Net profit for the quarter declined by 4.4% QoQ, while net profit margins declined from 17.3% in 2QFY20 to 16.1% in 3QFY21.

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 2,060.7 to Rs 2,331.6, registering a Gain of Rs 270.9 or around 13.1%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 12,499.5 (down 0.8%). Over the last one year it has moved up from 11,727.2 to 12,499.5, a gain of 772 points (up 6.6%).

Overall, the S&P BSE SENSEX is up 14.0% over the year.

Current Valuations

At the current price of Rs 2,331.6, the price to earnings (P/E) ratio of HUL stands at 68.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 61.3 times.

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