The FMCG major Hindustan Unilever (HUL) spent Rs 1,053 crore on ads and promotion in the second quarter of the fiscal year 2023, down 14.11% from the corresponding quarter in the previous year. The company had spent Rs 1,226 crore in Q2FY22.
In the quarter ended June 30, 2022 the FMCG major had spent Rs 1,334 crore on advertising and marketing.
Altogether, the company spent Rs 2,387 crore for the six months ended on September 30, 2022 in comparison to Rs 2,255 crore in the corresponding six months of the last year.
In FY 2022, HUL’s marketing spends were Rs 4,744 crore.
The company reported a 22.19% rise in its consolidated net profit to Rs 2,670 crore for the second quarter ended September 30, mainly helped by volume growth.
The company had posted a net profit of Rs 2,185 crore in the July-September quarter of the previous fiscal. Its total income increased 16.44% during the quarter under review to Rs 15,253 crore. It was Rs 13,099 crore in the year-ago period, Hindustan Unilever Ltd (HUL) said in a regulatory filing.
The company delivered an "underlying volume growth of 4%" during the July-September quarter.
"Growth was significantly ahead of the market with more than 75% of the business winning value and volume market share," said HUL in its earning statement.
Its total expenses rose 18.12% to Rs 11,965 crore compared to Rs 10,129 crore in the second quarter of the last fiscal.
HUL CEO and Managing Director Sanjiv Mehta said, "Building on our strong momentum, we have delivered yet another quarter of solid all-round performance. In H1 2022-23, we have added an incremental turnover of more than Rs 4,000 crore. Our consistent performance is reflective of our strategic clarity, the strength of our brands, operational excellence, and dynamic financial management".
The demand environment remains challenging with inflation impacting consumption, he added.
"However, with softening in some commodities and monetary/ fiscal measures taken by the government, we are cautiously optimistic in the near term. In this scenario, we will manage our business with agility, and continue to grow our consumer franchise whilst maintaining our margins in a healthy range," he said.
HUL remains confident of the medium to the long-term potential of the Indian FMCG sector and HUL’s ability to deliver consistent, competitive, profitable and responsible growth, he added.
Its Home Care division delivered 34% growth with volumes growing in double-digits. Beauty & Personal Care grew 11% driven by outperformance in the premium portfolio. Foods & Refreshment grew 4% driven by solid performance in Foods, Coffee and Ice-cream.
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