P&G cuts ad spend by 11%

P&G cuts ad spend by 11%

MUMBAI: FMCG major Procter & Gamble Hygiene and Health Care has cut its spend on advertisement and sales promotion by 10.82 per cent in the quarter ended 30 June.

The spend on advertising stood at Rs 453.1 million for the quarter ended 30 June compared to Rs 508.1 million a year-ago.

For the full accounting year ended 30 June, P&G had invested Rs 1.85 billion towards advertising and sales promotion, as against Rs 1.61 billion in the previous fiscal.

The company has posted a consolidated net profit of Rs 356.3 million for the final quarter of its accounting year, compared with Rs 101 million for the same quarter last year. However, for the full accounting year, the net profit has dropped 16 per cent to Rs 1.51 billion, from Rs 1.80 billion in the previous year.

The net sales for the quarter under review jumped 23.63 per cent to Rs 2.45 billion, from Rs 1.98 billion.