The company’s ad spends were up by 50.67% as compared to last fiscal year.
L'Oréal India has spent Rs 1385.7 crore for advertising in FY23, according to Financial Express, which have accessed data from financial database Tofler. For FY22, the beauty company had spent around Rs 919.7 crore for ad promotions.
The report highlights that the brand’s total revenue from operations stood at Rs 4952.5 crore in FY 23 as compared to Rs 3717.1 crore in FY 22. The net profit stood at 16.79% to Rs 488.3 in this fiscal year as against Rs 418.1 crore in the last fiscal year.
This is the company’s highest revenue in the last five years, as it reported Rs 3,738.69 crore in FY 22 and in FY 21 the revenue stands at Rs 2,858.37 crore. In 2020, it was at 3,461.41 crore.
L'Oréal India has been present in the country as a wholly-owned subsidiary of L'Oréal S.A. Currently, it is operating in India with 13 brands.