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Godrej Consumer Products' Q2 ad spends surge 24.5% YoY to Rs 343.27 Cr, while QoQ spends see 6.2% decline. Consolidated net profit rises 6% YoY to Rs 581 Cr.
The earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 35.7% YoY to Rs 234 crore. The EBITDA margins expanded 220 basis points YoY to 27%.
The festive season and end-of-year sale season in December attract higher volumes not just from platforms such as Amazon, and Flipkart, but also from brands that have an omni channel presence, the management said in the Q2FY24 earnings call.
According to the brokerage firm, Centrum Broking, the company experienced increased credit costs in the second quarter, primarily due to rise in provisions and write-offs resulting from challenges in the tractor segment caused by erratic monsoon.