Jyothy Labs posts 63% profit

Fast-moving consumer goods (FMCG) major Jyothy Labs Ltd on Wednesday posted a 63.8 per cent increase in its consolidated net profit for the quarter ended March 31, 2023.

The company reported ₹59 crore net profit during the quarter against ₹36 crore during the same quarter last year. It also reported a drop of 11.94 per cent in its profit sequentially compared with the December quarter with ₹67 crore profit. 

Jyothy Labs stated that it delivered sales of ₹617 crore, an increase of 12.8 per cent against the same period last year. 

The company’s total income grew by 12.68 per cent to ₹622 crore during the March quarter as compared to ₹552 crore posted in the same quarter last year. Total income decreased by 0.79 per cent for the quarter against ₹627 crore reported during the December quarter. 

“We have delivered a healthy performance for the quarter and the year despite all the headwinds. The last three years have seen consistent double-digit revenue growth. Our focus is on relentless execution and drives towards a higher business scale. Our product portfolio is diversified and it offers an opportunity to build each of our brands as leaders in their respective categories given their unique proposition. We believe in offering the best value to the consumers and are committed to higher growth for all our stakeholders,” said MR Jyothy, Managing Director, Jyothy Labs Limited. 

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