afaqs! news bureau

P&G India increases ad spend by 14% in Q2 of 2024

The quarter's PAT was Rs 229 crore, up 10% from the same period last year.

For the quarter ending December 31, 2023, Procter & Gamble Hygiene and Health Care, reported operating revenue of Rs 1,133 crore. For the quarter, profit after tax was Rs 229 crore, 10% more than it was a year earlier.

The company stated in its statement that productivity, moderating cost inflation compared to the base period, and product pricing mix are driving the profit growth.

The company's total expenses for Q2 of FY'24 were Rs 840 crore, about 3% less than the same period the previous year. For this quarter, the company's total revenue was Rs 1,149 crore.

For the December quarter of FY'24, it spent Rs 127 crore on advertising, a 14% increase over the same period the previous year. It invested almost Rs 111 crore in advertising during the December quarter of the previous year.

But when compared to the September quarter of FY'24, when it had spent about Rs 153 crore on sales promotion and advertising, it noticed a 16% decrease in ad spending this quarter.

LV Vaidyanathan, MD, Procter & Gamble Hygiene and Health Care says, “The quarter has remained challenging amidst a difficult operating environment. We remain committed to our integrated growth strategy of a focused product portfolio of daily use categories where performance drives brand choice, and superiority—across product performance, packaging, brand communication, retail execution and consumer and customer value— productivity, constructive disruption, and an agile and accountable organisation. We are confident that these strategies will help us navigate the mid-term and deliver balanced growth and value creation.”

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