Hindustan Unilever Limited (HUL) cut down spending on advertisements and promotions in the third quarter of 2021. As per the regulatory filing, their ad spend stood at Rs 1,193 crore for the quarter ending December 31, 2021, down by 14% YoY. The FMCG giant had spent Rs 1,392 crore in the corresponding quarter of the previous year.
Even compared to the previous quarter in 2021, their ad spend was down 12%. HUL’s ad spend in the quarter ending September 2021 stood at Rs 1,226 crore. For the nine months for FY22, their total ad spend stands at Rs 3,448 crore.
Sanjiv Mehta, Chairman and Managing Director said, ‘We have delivered a strong and resilient performance in the quarter despite moderation in market growths and significant levels of commodity inflation. I am particularly pleased that the growth is extremely competitive with our market share gains being highest in more than a decade. Our performance is reflective of our strategic clarity, strength of our brands, operational excellence, and dynamic financial management of our business.
“In the near-term, operating environment will continue to remain challenging. In this scenario, we will manage our business with agility, continue to grow our consumer franchise whilst maintaining our margins in a healthy range. We remain confident of the medium to long-term potential of Indian FMCG sector and HUL’s ability to deliver a Consistent, Competitive, Profitable and Responsible growth.”