GCPL Increases Ad Spends By Rs 67 Cr In Q3 FY’24

Godrej Consumer Products has posted a 1.5 per cent jump in its operating revenue for Q3 FY’24. The operating revenue as of 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 per cent YoY.

While GCPL’s India business volume grew 12 per cent and sales grew 9 per cent YoY, EBITDA rose by 16 per cent 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 per cent 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 per cent and personal care grew by 2 per cent.

Sudhir Sitapati, Managing Director & CEO, GCPL says, “Our consolidated volumes grew by 8 per cent, led by India business growing volumes at 12 per cent. Our consolidated revenue growth was impacted by the devaluation of the Naira and Argentine Peso with sales growing 2 per cent in INR terms and 19 per cent in constant currency terms. We continue to remain focused on volume-led growth along with healthy investments in brands and improvement in profitability.”