HUL adex up by 32.23% to Rs 6,489 crore in FY24

Delhi: FMCG major Hindustan Unilever’s FY24 ad spends increased by 32.23% (YoY) to Rs 6,489 crore from Rs 4,907 crore in the corresponding quarter of the previous year. 

In Q4, HUL advertising spends increased by 23.26% to Rs 1,616 crore versus Rs 1,311 in Q4 of FY23. 

However, the company spent Rs 10 crore more in Q3 in comparison to Q4. 

HUL reported a 1.53% decline in consolidated net profit to Rs 2,561 crore for the fourth quarter ended March 31.

The company had posted a net profit of Rs 2,601 crore in the year-ago period.

Total income during the quarter under review stood at Rs 15,441 crore in the fourth quarter as against Rs 15,375 crore in the corresponding period a year ago, Hindustan Unilever said in a regulatory filing.

For the fiscal ended March 31, 2024, the company reported a consolidated net profit of Rs 10,282 crore.

HUL had posted a net profit of Rs 10,143 crore in the 2022-23 fiscal year.

Its total income rose to Rs 62,707 crore in FY24 as against Rs 61,092 crore in FY23.

Rohit Jawa, CEO and Managing Director commented, “In FY’24 we delivered a resilient performance with 3% USG and crossed Rs 10,000 crores net profit mark. We remain focused on driving operational excellence and have continued to build back our gross margins whilst stepping up investment in brands and long-term capabilities. Looking forward, I am optimistic that consumer demand gradually improving due to a normal monsoon and better macroeconomic indicators.”

He further said, “With rising affluence, under-indexed FMCG consumption and a strong digital infrastructure, I remain very confident of the medium to long-term potential of the Indian FMCG sector. To serve the evolving aspirations of Indian consumers, we have embarked on a journey of 'Transform to Outperform'. Our key thrusts of growing our core through unmissable brand superiority, market making and premiumisation, re-shaping our portfolio to high growth spaces and leadership in channels of future, backed by our distinctive capabilities will enable us to continue winning in the Indian FMCG sector.”