Hindustan Unilever (HUL), a big company that sells everyday products, made a little less profit in the second quarter of 2023 than it did at the same time last year. This happened because fewer people in rural areas bought these products.
The company’s profit was about ₹2,656 crore, which is slightly less than ₹2,665 crore last year. But the total money they made from selling these products went up by 3.1% to ₹15,364 crore.
People who study companies thought that HUL would make about ₹15,577 crore and a profit of ₹2,609 crore in this quarter.
Some other companies also told everyone how they did in the second quarter of the year. One company made a lot more money than before, while another one made just a little bit more.
WHAT THE COMPANY THINKS ABOUT THE FUTURE
The person in charge of HUL said that they are not very sure about what will happen in the future. They think that more people will start buying these products because of the festivals, other services, and things the government is planning to do.
But they also have to be careful because the prices of things like oil and food can change a lot, and if it doesn’t rain enough, it can be hard to grow the crops.
So, they want to make sure that people keep liking their products, buy a lot of them, and they want to do a good job.
In this quarter, they also got some money back because of an old problem about taxes.
SOME NUMBERS ABOUT THE BUSINESS
More people bought HUL’s products this time compared to last year, but the increase was only about 2%. They also made a lot more money this time compared to the same time last year.
The company also had to pay less for things like the money they borrowed or the machines they use, so that’s why they made more money.
When it comes to selling things, this company is the biggest one. They also sell products that can make your house clean, and other things that help you take care of your body. These products became cheaper over the past 8-9 months because the stuff they are made from cost less.
Right now, people are slowly starting to buy more of these products, but it’s taking a bit of time.
HOW OTHER PEOPLE SAW IT
Other people who check these things said that more people bought these products in the stores. A few years ago, the number of things people bought was going down, but now it’s staying about the same.
And more people in India are buying these things, and they bought about 7-8% more stuff than last year.
HUL PROBLEMS IN RURAL AREAS
The company is finding it hard to sell things in the countryside, and things aren’t getting better yet.
The people who study this said that the cities are doing better, and they are getting back to normal faster.
This company wants to sell more things, but it’s hard because a lot of new people are also selling these things. They need some time to get better.
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FINAL WORDS
In short, the big company HUL is doing okay, but things are still tricky in some parts of India.
They hope to sell more products and make more money in the future, but they also know that many things can change.