Hindustan Unilever Ltd has reported an 18 per cent growth in its net profit for Q1 FY12 at Rs 627 crore. During the quarter, HUL’s domestic consumer business grew by 15 per cent, driven by strong 8.3 per cent underlying volume growth, with double digit growth across segments.
Home and personal business grew by 15.4 per cent, with soaps and detergents delivering strong growth, ahead of the market. Growth in personal products accelerated to 19.4 per cent, underpinned by strong volumes.
HUL’s food business grew 14.9 per cent with strong performances in both beverages and packaged foods. Beverages grew by 13 per cent, with tea and coffee performing well. In packaged foods, Kissan and Knorr grew in double digits, while Kwality Walls had one of its strongest quarters led by innovations and distribution expansion.
In a prepared statement, Harish Manwani, Chairman, HUL, commented, “Our strategy continues to deliver consistent and competitive growth. This is the fourth consecutive quarter of double digit growth led by a combination of innovations, market development, and relentless focus on execution.”