HUL advertising spends jump 23% in Q4FY24

FMCG giant Hindustan Unilever has posted a consolidated net profit of Rs 2561 crore for the quarter ended March 31, 2024, declining by 1.54% from Rs 2601 crore in the same quarter last year. The company posted net profit of Rs 2508 crore for the quarter ended December, 2023. 

The company spent Rs 1616 crore on advertising and promotions in Q4FY24. The expense saw a jump of 23.26%. The company spent Rs 1311 crore on advertising in Q4FY23. For the quarter ended December 2023, the company's advertising and promotion expenses stood at Rs 1626 crore. 

HUL also announced a key change in its management committee. The company appointed BP Biddappa as Executive Director, Human Resources and Chief People, Transformation and Sustainability Officer for South Asia. Biddappa will also join the HUL Board as a Whole Time Director, subject to shareholder approval. Anuradha Razdan, currently Executive Director, Human Resources, HUL and Chief HR Officer, South Asia will be appointed to a global role as Chief Reward & Organization Development Officer for Unilever from June 1, 2024. 

Welcoming Biddappa back to India, Rohit Jawa, CEO and Managing Director, HUL said, “An accomplished HR leader with over three decades of experience, Biddappa comes with immense knowledge of transformation and organizational development. I am glad to welcome him to the HUL Leadership and I am confident that his able guidance and leadership will help transform the business to progress further on our future-fit agenda.” 

Thanking Anuradha for her contribution to the business, Rohit said, “Anuradha is known for her ability to shape and deliver a strategic business-focused people agenda. She has played a key role in the HUL Leadership Team over the past five years. Her appointment to a senior leadership role for Unilever is yet another testimony to the powerhouse of talent we have in India.”