Dabur India boosts ad spend, closing FY 2024 with Rs 849.6 crore investment
Dabur’s FY 2023-24 reported strong financials with net profit surging to Rs 1,843 crore, up by 7.9 percent against previous year.
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Dabur, India's reported strong financials for FY 2023-24. Their full-year’s consolidated revenue touched Rs 12,404 crore witnessing a 7.6 percent year-over-year increase. On a constant currency basis, the growth stood at 10.1 percent. Net profit also climbed 7.9 percent to Rs 1,843 crore, compared to Rs 1,707 crore in the previous year.
There was a significant increase in their ad spends too. The advertisement and publicity spend for FY24 stood at Rs849.6 against FY 23’s Rs 640.3. Ad spends saw a 32.7 percent growth.
For Q4 of FY 24, ad spends stood at Rs 184.1 crore witnessing a growth of 21.4 percent against corresponding quarter of FY 23 where the same stood at Rs 151.6 crore.
As per the company their strong execution of Power Brand strategy, increased focus on premium products, and expanded distribution reach, combined with their rigorous cost-reduction measures, fuelled Dabur India Ltd's steady performance in Q4 and FY 2023-24.
“Our operating profit has shown a 13.9 percent improvement during the quarter. Dabur quarterly net profit surged 16.2 percent to Rs 350 Crore, up from Rs 301 crore a year earlier. Q4 consolidated net profit, on a like to like basis, reported a 22.7 percent upsurge to Rs 370 crore,” said the financial report.
“We've ended the year with a steady performance underscoring the power of the Dabur's brands. We have been investing heavily behind our brands, which increased by 33 percent, to drive demand and also sustain the growth momentum. This has helped us deliver steady sales and profit growth in the fourth quarter despite multiple headwinds,” said Dabur India Limited Chief Executive Officer Mohit Malhotra.
“We continued to execute on our strategic playbook by driving operational excellence, delivering innovative and premium products, and expanding our retail footprint to build the foundation for long-term profitable, sustainable growth,” he added.
Premium products today account for 18 percent of Dabur's portfolio.
