The company spent Rs 96.92 crore on advertising and sales promotion in the same period of the prior fiscal year.
Procter & Gamble Hygiene and Health Care Ltd has slashed its advertising and sales promotion expenditures by a significant 45% year-on-year for the quarter ending June 30, 2023. The company allocated a mere Rs 53.54 crore towards advertising and sales promotion in the initial quarter of fiscal year 2024.
This marked a substantial decrease from the Rs 96.92 crore spent in the same period of the prior fiscal year. Throughout the entire year, the company managed to curtail its advertising expenses by 9.5% when compared to the preceding year.
The company also exhibited a remarkable threefold surge in Profit After Tax (PAT), reaching Rs 151.24 crore for the quarter ending in June. In alignment with its July-June fiscal calendar, the company had previously reported a PAT of Rs 42.55 crore during the corresponding quarter in the prior fiscal year.
The company revealed that its net sales for the review quarter stood at Rs 848.74 crore, marking a substantial 12.31% increase compared to Rs 755.65 crore recorded in the corresponding period of the previous year. This information was disclosed by Procter & Gamble Hygiene and Health Care Ltd (PGHH) in a regulatory filing.
Additionally, PGHH reported revenue from operations amounting to Rs 852.53 crore, reflecting a significant 9.8% rise during the June quarter. In the same period, the brand managed to curtail its total expenses to Rs 656.05 crore, showing a notable 9.42% reduction compared to the expenses of Rs 724.31 crore incurred a year earlier.
The company has also announced the appointment of Mukta Maheshwari as its new chief marketing officer, effective from September 1, 2023.