Hindustan Unilever approves dividend of Rs 24 per share

FMCG major Hindustan Unilever (HUL) on Wednesday announced a final dividend of Rs 24 per share. The company had earlier paid an interim dividend of Rs 18 per share on November 16, 2023, the total dividend for the financial year amounts to Rs 42 per share, which is an increase of 8% over the last financial year.

HUL today reported a 6% drop in its standalone net profit at Rs 2,406 crore for the quarter ended March 2024. The same stood at Rs 2,552 crore in the last year quarter. The profit was less than the Street estimate of Rs 2,462 crore.

Revenue from operations in the reporting period rose marginally to Rs 14,693 crore, compared with Rs 14,638 crore in the corresponding period of last year.

The results were announced after market hours and the stock ended at Rs 1,065 on the NSE, up by Rs 9.25 or 0.88% over the Tuesday closing price.

HUL said it delivered a resilient performance in the quarter with an underlying sales volume growth of 2%.

EBITDA for the reporting fourth quarter fell 1% year-on-year to (YoY) Rs 3,435 crore against Rs 3,471 crore in the same quarter previous year.

Meanwhile, EBITDA margins contracted 30 basis points to 23.4% in the reporting period.

The beauty and personal care business witnessed a premium portfolio growing ahead of the rest. Overall, the segment had an underlying sales growth of 02% with flat volumes.