Colgate Palmolive India's ad spends soar 20.20% YoY to Rs 204.26 crores in Q3FY24

Colgate Palmolive India has significantly upped its spending on advertising in Q3 of FY24 to Rs 204.26 crores by 20.20% on a YoY basis.

In the third quarter of the previous fiscal year, the FMCG major had spent Rs 169.93 crores on advertising.

The conglomerate, in its quarterly update, also mentioned that its PAT was up 35.71% from Rs 243.24 crores to Rs 330.11 crores in Q3FY24.

In the third quarter ended December 31, 2023, Colgate Palmolive India’s Total Income stood at Rs 141.35 crores, which is 8.60% up on a YoY basis from Q3FY23’s Rs 130.17 crores.

In its regulatory filing, the conglomerate also mentioned that its Net Sales went up 8.2% to  Rs.  1386.41 crores for the quarter ended  December  31,  2023,  over the previous year’s quarter wherein it stood at Rs 1281.21 crores.

Of this, Colgate Palmolive India’s domestic growth was reported at 8.8% for the quarter.

On the other hand, the FMCG major’s total expenses went down marginally (0.47%), from Rs 97.48 crores in the third quarter of the previous fiscal year to Rs 97.01 crore in the corresponding quarter of the current fiscal year.

Sharing her views on the quarterly update, Prabha Narasimhan, MD and CEO, Colgate Palolive India, said,  “In  this quarter,  we  reaffirmed  our  commitment  to  advancing  the  nation's  oral  health  through  ‘The  Sweet  Truth  -  Brush  at  Night’  campaign,  reaching  over  300  million  people  in  urban  India.  With  consumers  at  the  core,  our  focus  remains  on  strengthening  the  strategic  pillars  of  driving  superiority-  in  our  products,  communication,  and  overall  experience. Colgate  MaxFresh  underwent  a  relaunch,  introducing  a  new-to-world  proprietary  formula  infused  with  unique  cooling  crystals  to  deliver  a  superior  freshness  experience  which  is  winning with consumers  ahead of our direct competition.”

“We  are  pleased  with  top  line  growth  for  the  quarter  supported  by  the  strong  performance  of  our  core  equities.  Profitability  indicators  are  on  an  upward  trend  and  we  continue  to  enhance  the  investment  support  behind  our  brands.  Our  current  performance  underscores  the  effectiveness  of  our  strategy,  focus  on  technology,  securing  the  right  talent,  and  efforts  in  governance  and  cost  management.  These  initiatives  have  yielded  consistent  growth  for  the  company,  with  our  toothpaste  segment  achieving  double-digit  growth  and  positive  volume  expansion,” she added.

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