HUL's Q4: Ad and promo spending up 23% vs. 2023
During the quarter that concluded on March 31, 2024, the total advertising expenditure incurred by the company amounted to Rs 1,586 crores.
Sumit Rawat
Hindustan Unilever disclosed its results for the quarter and fiscal year ending March 31, 2024. Total ad spending for Q4 stood at Rs 1,586 crores, marking a 22.9% increase from Rs 1,290 crore in the same period last year.
Standalone net income for Q4 FY24 decreased by six percent to Rs 2,406 crore compared to Rs 2,552 crore in the previous year. Total revenue for the quarter surged to Rs 15,441 crore, as per the BSE filing.
For the fiscal year 2023–24, net profit reached Rs 10,277 crore, a modest 1.5% rise from Rs 10,120 crore in the prior year. Overall income for FY24 amounted to Rs 62,707 crore, showing a growth of 2.64% from FY23's Rs 61,092 crore.
The company's total costs increased by 2.3% to Rs 48,783 crore from Rs 47,683 crore in the previous year. A dividend of Rs 24 per share was declared. HUL's stock price on BSE closed at Rs 2,260.05 on Wednesday before the financial results release.
CEO and MD Rohit Jawa stated in a press release, "In FY’24, we delivered a resilient performance with 3% USG and crossed the Rs. 10,000 crore net profit mark. We remain focused on driving operational excellence and have continued to build back our gross margins while increasing investment in brands and long-term capabilities. Looking ahead, I am optimistic about consumer demand gradually improving due to a normal monsoon and better macro-economic indicators. With rising affluence, under-indexed FMCG consumption, and a strong digital infrastructure, I remain very confident in the medium to long-term potential of the Indian FMCG sector. To meet the evolving aspirations of Indian consumers, we have embarked on a journey of 'Transform to Outperform'. Our key thrusts include Growing our Core through Unmissable Brand Superiority, Market Making, and Premiumisation, Re-shaping our portfolio to high growth spaces, and Leadership in Channels of the future, backed by our distinctive capabilities, enabling us to continue winning in the Indian FMCG sector.
