P&G advertising & promotion expenses decline by 44% YoY
Company’s advertising & promotion expenses dropped to Rs 53.54 crore for the quarter ended June 30, 2023 against Rs 96.92 crore for the quarter ended June 30, 2022
Procter & Gamble Hygiene and Health Care Ltd has announced its financial results for the fiscal and quarter ended June 30, 2023. During the quarter, the company delivered strong and balanced growth with sales of Rs 852 crore, up 10% versus a year ago, driven by strong brand fundamentals and integrated growth strategy, said the company’s financial statement.
According to the company statement, Profit After Tax (PAT) for the quarter was Rs 151 crore, versus Rs 43 crore a year ago because of strong base business growth and one-time help.
In the BSE filing, the company said its advertising & promotion expenses declined by 9.49% to Rs 426.52 crore against Rs 471.24 crore for the previous year ended on June 30, 2022.
Meanwhile, the FMCG company’s advertising and sales promotion expenses declined by 44.76% at Rs 53.54 crore for the quarter ended June 30, 2023 against Rs 96.92 crore for the quarter ended June 30, 2022.
With this, for the fiscal ended June 30, 2023, the company reported sales of Rs 3917 crore, flat versus year ago owing to a one-time other operating income and a pandemic-linked demand surge in the healthcare portfolio in the base period. For the fiscal ended June 30, 2023, the company reported Profit After Tax (PAT) of Rs 678 crores, up 18% versus a year ago including one-time tax impacts. Excluding these one-time tax impacts, Profit After Tax (PAT) is up 10% operationally. This was driven by premiumization and productivity interventions, as the company continued to make sequential progress in profit growth, despite the challenging operating and cost environment.
LV Vaidyanathan, Managing Director, Procter & Gamble Hygiene and Health Care Ltd. shared, “We delivered a strong top and bottom-line growth in the quarter, leading up to a resilient finish for the fiscal year despite a challenging operating environment. We continued to raise the bar on superiority and balancing innovation and industry-leading practices, while driving productivity in everything we do. We remain committed to our strategy - a focus on daily use categories where performance drives brand choice, superiority (of product, package, communication, go-to-market execution, and value), productivity, constructive disruption, and an agile and accountable organization structure and culture - all in pursuit of sustainable, balanced growth and value creation.”
The company’s business continues to grow behind a strong product portfolio, superior consumer communication and a continuous stream of product innovations like Whisper Hygiene Comfort, Whisper Choice Nights, Vicks ZzzQuil- World’s #1 Sleep Supplement, Vicks Roll-On Inhaler and Vicks Xtra Strong.
According to the company, its brands also continued to step up as a force for good. Whisper launched – ‘The Missing Chapter 2.0’ as part of the fourth edition of its long running #KeepGirlsInSchool (KGIS) movement, with the aim of educating mothers on the biology of periods to help them educate their daughters. Whisper also continues to raise awareness about menstrual hygiene education through ‘Whisper Menstrual Health & Hygiene Program’. As part of this, Whisper educated over 2 crore girls on puberty and hygiene over last two years, against a commitment of educating 2.5 crore girls by 2024. It will renew the commitment to impact 2.5 crore girls over next 3 years. Whisper India also partnered with UNESCO India to introduce teaching-learning modules, addressing the challenges related to menstrual health and hygiene management, including in relation to disability, gender, teachers and educators, young adults, and nutrition
