Procter & Gamble Health and Hygiene (PGHH) has cut down its expenditure on advertising and promotions by 45 percent year-on-year during the quarter ending June 30, 2023.
The company follows the July-June financial year. PGHH spent Rs 53.54 crore on advertising and sales promotion in the June quarter of the year 2024, a sharp decline from Rs 96.92 crore spent in the corresponding quarter of the previous fiscal. The ad spent in the previous quarter ending March 31, 2023, was at 106.53 crore.
PGHH cut down its ad spends by 9.5 percent in the full year over the previous year. The company’s revenue from operations stood at Rs 852.53 crore, up 9.8 per cent in the June quarter. PGHH’s total expense was Rs 656.05 crore in the June quarter, down 9.42 per cent as against Rs 724.31 crore a year ago.
For the financial year ended June 30, 2023, its PAT rose 17.78 per cent to Rs 678.14 crore. It was at Rs 575.75 crore in the year-ago period. The company’s revenue from operations for the financial year grew marginally to Rs 3,917.90 crore. The same was Rs 3,900.92 crore for the financial year ended June 30, 2022. PGHH said, this was “flat versus a year ago owing to a one-time other operating income and a pandemic-linked demand surge in the healthcare portfolio in the base period.”
In a statement, the company further stated that it delivered a strong top- and bottom-line growth in the quarter, leading up to a resilient finish for the fiscal year despite a challenging operating environment.