GCPL ad spends up 24% YoY for Q3 FY24
Godrej Consumer Products has recorded an operating revenue of Rs 3,623 crore for the quarter
Godrej Consumer Products Limited has posted a 1.5% jump in its operating revenue for Q3 FY’24. The operating revenue as on December 31, 2023, stood at Rs 3,623 crore, compared to Rs 3,568 crore in Q3 FY’23.
The company attributed this minor jump to the impact of devaluation and constant currency growth of 19% YoY.
While GCPL’s India business volume grew 12% and sales grew 9% YoY, EBITDA rose by 16% YoY. The Profit After Tax for the period was Rs 581 crore.
The company also increased its ad spends by Rs 67 crore, a jump of 24.2% in Q3 FY’24 as compared to the same period last fiscal. While in this quarter the advertising and publicity spends stood at Rs 343 crore, in Q3 of last fiscal it was at Rs 276 crore.
Category wise, the home care segment grew by 5% and personal care grew by 2%.
Sudhir Sitapati, Managing Director & CEO, GCPL said, “Our consolidated volumes grew by 8%, led by India business growing volumes at 12%. Our consolidated revenue growth was impacted by the devaluation of the Naira and Argentine Peso with sales growing 2% in INR terms and 19% in constant currency terms. We continue to remain focused on volume led growth along with healthy investments in brands and improvement in profitability.”
