Beverage giant Parle Agro, known for popular products like Smoodh, Frooti, and Appy, raised its advertisement expenditure by 17.7% in FY24. The company spent ₹278.38 crore on advertising during the fiscal, up from ₹236.49 crore in the previous year, as per a report.
However, despite the increased investment in marketing, Parle Agro faced a sharp 89.1% drop in profits, which fell to ₹17.29 crore in FY24 from ₹158.78 crore in FY23.
The FMCG firm’s consolidated revenue also saw a decline of 12.3%, reaching ₹3,126.06 crore during the fiscal year. Of this, ₹3,061 crore came from domestic sales, while exports contributed ₹26.81 crore.
Additionally, Parle Agro’s consolidated income dipped by 12.15%, totaling ₹3,209.43 crore compared to ₹3,653.48 crore reported in FY23.
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