MAM
Marico’s ad spend drops marginally in FY’11
MUMBAI: FMCG major Marico has cut down its advertising spend marginally in the fiscal 2010-11 compared to the year- ago period.
The company, which manufactures hair-oil brand Parachute, spent Rs 3.46 billion towards advertising and sales promotion in the year ended 31 March 2011.
In the previous fiscal, Marico had an ad spend of Rs 3.51 billion.
Marico‘s turnover rose 17 per cent, including a one-time amount of Rs 500 million it received from Cargill India for sale of edible oil brand Sweekar.
The company posted a consolidated revenue of Rs 31.28 billion, up from Rs 26.61 billion a year ago.
Marico cut down its ad spend by 25 per cent in the fiscal fourth-quarter, which had an overall impact in the year. The company spent just Rs 671.93 million on advertising during the three-month period ended 31 March 2011, down from Rs 892.39 million in the same period of the earlier year.
Marico posted a 24.09 per cent jump in its revenue for the fourth quarter. Net sales during the quarter under review was Rs 7.47 billion, up from Rs 6.02 billion a year ago.
