FMCG player Jyothy Laboratories today reported 6.59 per cent increase in consolidated net profit at Rs 21.51 crore for the third quarter ended December 31, 2016.
The company had posted a consolidated net profit of Rs 20.18 crore in the same period last fiscal, Jyothy Laboratories said in a BSE filing.
Net sales during the quarter under review stood at Rs 399.53 crore as against Rs 387.66 crore in the same period previous fiscal, up 3 per cent.
Commenting on the performance, Jyothy Laboratories Chairman and Managing Director M P Ramachandran said: "The business during the the quarter was impacted by the demonetisation drive.
"While wholesale trade was at total standstill for two weeks, our share from modern trade increased significantly as traders introduced a slew of cashless options for consumers."
The company also switched its production plans to maximise small SKUs besides rolling out a national plan with channel partners to drive sales and improve servicing, he added.
During the quarter, the company said its fabric care segment clocked revenues of Rs 172.9 crore as against Rs 157.1 crore in the year-ago period, up 10.1 per cent.
Dishwashing category had a revenue of Rs 125.4 crore as compared with Rs 122.2 crore in the same period last fiscal, up 2.6 per cent, it added.
Household insecticides, however, had a dip in revenue at Rs 45.3 crore as against Rs 53.4 crore last fiscal, down 15.2 per cent.
Personal care segment, including body soap and toothpaste among others, had a revenue of Rs 34 crore, down 0.8 per cent from Rs 34.3 crore in the same quarter last fiscal, it said
On the outlook, Ramachandran said: "As we enter last quarter of FY17, the demand situation has started to getting back to normal. We will continue with our strategy of investing in marketing and on ground activities to improve our market share and the company is committed to delivering growth ahead of industry.
Disclaimer: No Business Standard Journalist was involved in creation of this content
