Cost of Goods sold was down by 75 bps. While competitive Advertising and Promotion (A&P) spends were maintained, Zero Based Budgeting (ZBB) helped drive A&P percentage down by 20 bps and other expenses down by 40 bps. Earnings before interest, tax, depreciation and amortisation (EBITDA) was up by 14%. Profit after tax before exceptional items, PAT (bei), at Rs. 1292 Crores was up by 15%, Net Profit at Rs.1283 Crores, was up 9% for the quarter.

Harish Manwani, Chairman commented: 'This quarter saw the announcement of the launch of GST, a ground-breaking tax reform for India. I am pleased with the manner in which our business worked closely with all key stakeholders including industry associations, the government and our trade partners to prepare the ground for a smooth transition. Despite the short term challenges of this transition, our company delivered yet another resilient performance. Both growth and margin improvement were delivered through a combination of sustained innovations, a comprehensive savings program and a relentless focus on execution in the market place. We remain positive on the medium term outlook for the industry and will continue to drive consumer value, which also delivers profitable volume driven growth for the company.'

Hindustan Unilever Limited published this content on 18 July 2017 and is solely responsible for the information contained herein.
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