Emami notes 8.1% surge in ad spends in Q3FY24

FMCG major Emami, on Friday, posted an increase of 8.1%% in ad spends in the last quarter of 2023. The company spent Rs 165.73 crore in advertising in the quarter ended December 31, 2023 versus Rs 153.26 crore in the same quarter, previous year.

The company witnessed a 11.9% increase in PAT to Rs 260.65 crore for Q3FY24. This was owed to improvement of margins due to reduced input costs.

The company posted a PAT of Rs 232.97 crore in the corresponding period of the previous year.

Revenue from operations during the quarter was up by 1.4% to Rs 996.32 crore, from Rs 982.72 crore registered in the same quarter of the previous year.

Revenue was flat in the domestic business. However, non-winter products grew 5%. The international business delivered a constant currency growth of 11%, said the Kolkata-headquartered firm in its earning statement.

The company’s total income saw a 2.4% increase to Rs 101.303 crore from Rs 98.958 crore in the previous fiscal of the same quarter.

For the full year, the company's total income stood at Rs 3474.66 crore. Total profit for the year stood at Rs 627. 41 crore.

"The third quarter witnessed subdued demand trends, particularly in rural markets. Moreover, the period was characterized by the late onset of winter, negatively impacting the demand for winter contextual products," Emami said.

"Disrupted winter, weak rural demand and continued inflationary woes impacted the winter and discretionary offtakes. We remain committed to delivering volume-led profitable growth going forward aided by accelerated scale up of emerging channels, distribution initiatives, ongoing brand and strategic investments coupled with launch of innovative products,” it said.

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