Parle Agro, the maker of popular beverages such as Frooti, Appy Fizz, and SMOODH, reported a challenging FY24, with profit declining sharply by 89% to ₹17.29 crore from ₹158.78 crore in FY23. Its consolidated revenue fell 12.3% year-over-year to ₹3,126.06 crore, primarily attributed to decreased sales and higher operational challenges.
The company’s domestic sales stood at ₹3,061 crore, while export revenue was ₹26.81 crore. Despite the decline in profitability and revenue, Parle Agro increased its advertising expenditure significantly by 17.7% to ₹278.38 crore, up from ₹236.49 crore in FY23, reflecting its commitment to brand building and market presence.
Total expenses for FY24 were ₹3,194.28 crore, an 8% drop from the previous year, partly due to cost-cutting measures.
