L’oreal India spends Rs 1385.7 crore on advertising in FY23
The beauty brand’s advertising promotional expense grew by 50.67%
Beauty brand L’oreal India has spent Rs 1385.7 crore on advertising in FY23. The company’s advertising promotional expense grew by 50.67%.
The advertising promotion expense for the financial year 2022 was Rs 919.7 crore, according to financial data accessed by business intelligence platform Tofler.
The company’s total revenue from the operations stood at Rs 4952.5 crore in the fiscal 2023 as compared to Rs 3717.1 crore in the previous fiscal. Meanwhile, the net profit of the company grew by 16.79% to Rs 488.3 crore in FY23 against Rs 418.1 crore in the previous fiscal.
During the financial year 2022-2023, Amit Jain resigned from the position of Managing Director of the company on December 31, 2022 and was appointed as the chairman & Non-Executive Director of the company from January 1, 2023. Aseem Kaushik was appointed as an Additional Director and thereafter as Managing Director from January 1, 2023.
