Jyothy Labs Q1 net profits up by 18.7% to Rs 47.73 cr; sales up 13.7%

Home-grown FMCG firm Jyothy Labs on Monday reported an 18.73 per cent rise in its consolidated net profit at Rs 47.73 crore in the first quarter ended June 30, 2022.

It had posted a net profit of Rs 40.20 crore in the April-June quarter of the last fiscal year, Jyothy Labs said in a regulatory filing.

Jyothy Labs' revenue from operations was up 13.66 per cent to Rs 597.20 crore during the period under review, as against Rs 525.40 crore in the corresponding period of the previous financial year.

"Our profitability has been impacted due to significant input costs inflation persisting across our product categories," Jyothy Labs said in its earnings statement.

Its total expenses were at Rs 553.71 crore, up 15.45 per cent in Q1/FY 2022-23, as against Rs 479.61 crore.

"The quarter has witnessed the household budget of the consumer being impacted by high inflationary pressure leading to an overall dip in the consumption of FMCG products. We have leveraged on our expanded distribution platform which has helped us to mitigate the slowing consumption environment by focussing on sales of our existing product portfolio in newer geographies," it said.

Jyothy Labs' revenue from Fabric Care segment was at Rs 251.12 crore and from Dishwashing segment it was Rs 209.32 crore during the quarter under review.

While revenue from Household Insecticides was at Rs 44.83 crore, Rs 69.44 crore was from personal care and for Laundry service it was at Rs 10.72 crore.

"Our operating performance has been stable in spite of several short-term challenges on the demand-side and high input prices.

"We have leveraged our expanded distribution and targeted market development initiatives in focusing on several growth opportunities which have helped us in reducing the impact of a slowing consumption environment," Jyothy Labs Managing Director M R Jyothy said.

On the outlook, she said: "We have delivered double-digit revenue growth for the last few quarters and will focus on relentless execution and are determined to continue to win market shares by building scale in our operations."

Jyothy Labs own FMCG brands like Ujala, Henko, Mr White, Exo, Pril, Margo and Neem.

Shares of Jyothy Labs Ltd were trading at Rs 167.95 on BSE, up 2.25 per cent over its previous close.