With moderating input costs and an increase in disposable income, Fast Moving Consumer Goods (FMCG) maker Jyothy Labs saw a 100 per cent increase in its net profit at ₹96 crore for the quarter that ended in June as against ₹48 crore reported during the same time last year.
The company also reported a 62 per cent increase in profit with ₹59 crore reported in the March quarter. Its revenue from operations saw a 15.07 per cent year-on-year increase at ₹687 crore while an 11.52 per cent increase was reported as against the quarter that ended in March with ₹616 crore.
Net sales for the company were up by 15 per cent and stood at ₹687 crore. Fabric care sales increased by 18.1 per cent for Q1 FY24 while dishwashing sales increased by 10.6 percent for the quarter. Household insecticides saw a 10.1 per cent increase and personal care sales saw a 21.1 per cent increase during the quarter.
“Our operating performance has been encouraging. We are focused on providing best consumer experience through our brands in their day-to-day life. At the core of our operations, sustainability initiatives have been at the forefront to drive our long-term growth and profitability. At Jyothy Labs, we aim for our business model to deliver consistent revenue growth with a focus on strengthening distribution, relevant innovations, increasing marketing investment, and optimizing cost structures. We have consistently delivered double-digit revenue growth for the last few years and expanding our profitability metrics. We strive to build scale with relentless execution and grow our brand’s market share,” said M R Jyothy, Managing Director of Jyothy Labs Limited.