L’Oréal India, a subsidiary of the French multinational L’Oréal SA, has reported a slight decrease in profit for the financial year 2023-24.
The company’s net income stood at INR 487.46 crore, down from INR 488.35 crore in the previous fiscal year. However, L’Oréal India saw a significant 12.6% increase in revenue from operations, which reached INR 5,576.47 crore.
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L’Oréal’s total income rises by 13%
Notably, the company’s total income, including other income, rose by 13.83% to INR 5,684.60 crore for the financial year ending March 31, 2024. In the previous fiscal year, the company’s total income was INR 5,000.68 crore, with revenue from operations standing at INR 4,952.55 crore.
Further, the company’s expenses also saw a significant increase, with advertising and promotional expenses growing by 23.7% to INR 1,714.54 crore in FY24. The royalty paid to its French parent company also increased by 16.3% to INR 265.16 crore. The company’s total expenses stood at INR 5,022.87 crore, marking a 16.56% increase from the previous fiscal year.
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L’Oréal operates with 13 brand
Revenue from product sales climbed 14% to INR 5,368.52 crore, compared to INR 4,711.96 crore in FY23. The company operates in India with a portfolio of 13 brands, including L’Oréal Paris, Garnier, Maybelline New York, and NYX Professional Makeup, available across mass-market channels.
