FMCG company Jyothy Laboratories today posted a sharp 63.1 per cent increase in net profit to Rs 27.4 crore for the third quarter ended December 2013.
The net profit of the company stood at Rs 16.8 crore in the same period last year.
Net sales increased by 26.8 per cent to Rs 296.98 crore in the quarter this fiscal, compared to Rs 234.2 crore for the same period last financial year, a company statement said.
The company reported EPS of Rs 1.63 (on enhanced capital) as against Rs 1.01 in the corresponding quarter of last year.
The company's soaps and detergent business stood at Rs 240.4 crore during the quarter compared to Rs 187.2 crore in December 31, 2012, up by 28.4 per cent.
"We have continued to witness a steady growth in sales in spite of weak consumer sentiment in the last several quarters. Increase in geographic footprint of our seven power brands has helped us grow at a fast pace.
"We have strategically concentrated on investing in our brands through advertising campaigns and brand extensions which are paying off well," Jyothy Labs Chairman & Managing Director M P Ramachandran said.
The company is also concentrating on increasing product portfolio. The funds raised via preferential allotment was utilised to repay debt and balance will further be utilised for organic and inorganic growth of the company, he said.
"We expect the growth momentum to continue translating to healthy volumes and profitability growth for the financial year," he added.
