The country's largest consumer goods maker had posted a net profit of ₹2,061 crore in the year-ago period.
The FMCG giant's operating margin remained healthy at 23.2% despite the unprecedented inflation in input costs. The YoY EBITDA margin declined 110 bps.
Its total sales during the quarter grew 19%, according to a regulatory filing by the company.
In a statement, the FMCG major said it continued to grow significantly ahead of the market, gaining value and volume market shares.
The firm's total income rose 20% to ₹14,409 crore in Q1FY23 as against ₹11,982 crore in Q1FY22.
The company's revenue from sales jumped 19.4% YoY to ₹14,016 crore as compared to ₹11,730 crore in the corresponding quarter last year.
The company said its Home Care unit delivered 30% growth driven by strong performance in Fabric Wash and Household Care. Both categories grew in high double-digits with all parts of the portfolio performing well, HUL stated. Liquids and fabric sensations continued to outperform driven by effective market development actions.
The Beauty & Personal Care segment saw a growth of 17%. Hair Care grew in high double-digits, led by strong performance in the premium portfolio.
The Foods & Refreshment unit grew 9% driven by solid performance in Ice-cream, Coffee and Food Solutions.
Sanjiv Mehta, CEO and Managing Director, said, “While there are near term concerns around inflation, the recent softening of commodities, forecast of a normal monsoon, and monetary/ fiscal measures taken by the government augur well for the industry."
HUL also benefited from a low base of sales in the pandemic-hit year-ago period, but surging inflation in recent months has curbed spending by consumers.
High commodity prices had forced the Indian unit of Unilever to raise prices across its main segments, including for fabric wash and household care products.
Shares of HUL rose by 0.57% to close at ₹2,568.00 apiece on the NSE today.
