Marico spent Rs 246 crore in advertising and sales promotion for Q3FY24

Marico spent Rs 246 crore in advertising and sales promotion in Q3FY24, it revealed in its financial disclosure on January 29. Increasing from Rs 220 crore in Q3FY23, it is a 12% increase in YoY spends. 

In Q2FY24, A&P was 10.8% of the revenues. In Q3FY24, it has reduced to 10.2% of the revenues. 

In FY22, A&P was 8.4% of the sales. In FY23, it increased to 8.6% and is projected to be 9.5% in FY24. The FMCG company has ramped up its A&P spends to drive long-term growth in core and new franchises.

In the quarter ending December, it reported a 16% increase in net profit, reaching Rs 386 crore, as stated in its exchange filing on Monday. In Q3FY23, the net profit was Rs 333 crore. The company posted revenue from operations at Rs 2,422 crore, reflecting a 1.9% decline, while witnessing a 2% underlying volume growth in the domestic business and a 6% constant currency growth in the international business. In the corresponding quarter of the previous year, revenue stood at Rs 2,470 crore.