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Marico’s ad-ex increases by 10% YoY to Rs 213 crore in Q2 FY23

The FMCG player has reported a growth of 3% in their consolidated revenue in India and 11% constant currency growth internationally in Q2 of FY23

Marico has reported a revenue of Rs 2,496 crore in Q2 of FY23, which is 3% up from Rs 2,419 crores it had earned in the corresponding quarter of the previous year.

The advertising expenses of Marico have also grown by 10% and reached Rs 213 crores in the second quarter of the current fiscal year, from last year’s Rs 194 crore on a year-on-year basis.

The FMCG player also pointed out that it has not received any respite from factors like  geopolitical tensions, recession fears, commodity price volatility, currency depreciation, stiff retail inflation and soft consumption trends.

Moreover, Marico’s India Business has delivered a turnover of Rs. 1,896 crores, up 1% on a YoY basis. The international business has posted a turnover of Rs. 1,896 crore, up 1% on a YoY basis.

In value terms, while Parachute Rigids was down by 11%, Value Added Hair Oils was up by 2%, Saffola Franchise by 4% and Foods by over 26%.

As per Saugata Gupta, MD and CEO, Marico, “The first half ended on a fairly positive note despite the operating environment bringing little cheer. We are hopeful of a much better performance in the core domestic portfolio in the second half of the year as macro indicators and the base turn more accommodative, while the new engines continue to deliver on their promise.”

“We are confident of sustaining the strong and profitable growth trajectory in the international markets and staying resilient amidst uncertainty in some of the markets. We believe consistent investment in our brands and focus on execution will enable us to deliver competitive volume led growth and maintain healthy profitability over the near and medium term,” Gupta added.

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