India’s largest FMCG company Hindustan Unilever (HUL) on Tuesday said its net profit rose by 24% to Rs 687 crore for the fourth quarter ended March 31 on high growth in the soaps and detergents segment.
For the same period last year, the company had posted a net profit of Rs 552 crore.
The company’s soap and detergent segment grew by 28% year-on-year. The company said the growth in the segment was more due to the price factor than the volume factor. Meanwhile, HUL’s personal products that witnessed a 17% year-on-year jump was due to the growth in volume.
The net sales grew by 22% in the period to Rs 5,660 crore against Rs 4,656 crore in the same period a year ago. The company said its volumes grew by 10%.
“The rural consumption was between 40% and 60% as against urban consumption depending on categories,” said Nitin Paranjpe, CEO, HUL.
The company said inflation did have effect on commodity prices and had impacted consumer’s buying patterns and prices of products in some categories.
The net profit for the financial year was up by 20% at Rs 2,691 crore as against a net profit of Rs 2,246 crore in year ended March 31, 2011. The net sales grew by 18% year-on-year. The net sales grew from Rs 21,736 crore in FY 11-12 as against Rs 18,451 in FY 10-11.