Total expenses were up nearly 8 per cent to Rs 1,641 crore in Q2, as the firm witnessed inflationary trends.
However, it optimised brand-building spends in non-core portfolios and drove a variety of cost-saving initiatives to help tide over input cost pressures.
Despite this, the firm’s operating margins were down 30 basis points year-on-year to 20.7 per cent.
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