Madison World records total profit of Rs 34 cr in FY24, a 75% YoY jump

Madison World spent Rs 75.21 lakh on advertising and promotional expenses in FY24, a 105% increase from Rs 36.66 lakh in FY23, shows the media agency’s financial report for FY23-24.

According to their disclosures, the total revenue from operations stands at Rs 3,537 crore, 18.9% higher than Rs 2,974 crore in the 2022-23 fiscal. Subsequently, the total revenue was Rs 3,554.8 crore in FY24, marking a 19% increase from the previous fiscal.

The agency’s total profit for the year stands at Rs 33.6 crore, 75% higher than FY23. In FY23, it was Rs 19.2 crore.

Madison, in a large number of cases, places advertisements with various media entities on behalf of its clients. The company makes the payment on behalf of clients and recovers the same from the clients, adding its commission income or fee.

The principle in which the company recognizes its revenue is as follows: Commission income in respect of advertisements placed with media (Print, Electronic, Digital and others) by the company on behalf of its clients is recognised in the period during which the advertisement is printed, published or aired as the case may be.

Madison has conceptualised ad campaigns in the past for a host of brands, ranging from Saffola to Asian Paints to Blue Star to HIT.

In 2024, the agency also retained its account with Parag Milk Foods. They won multiple media accounts, including NIC Ice Cream, Liquify, Pilgrim India, Sun Neo.

The most noteworthy achievement for Madison was winning BJP's media planning and buying account for the 2024 elections. The agency had also handled the Narendra Modi-led party's media strategies for the 2014 and 2019 general elections too.

The party’s overall media expenditures were set to be over Rs 1,800 crore and the mandate included campaigns on print, TV and radio.

Additionally, Madison World on its 36th Anniversary in March also announced a brand refresh. The centrepiece of the new branding was the logo - a sleek, geometric design that symbolizes precision, creativity and forward-thinking, according to the agency.