FMCG maker Jyothy Labs Ltd has announced a significant increase in its consolidated net profit for the second quarter ended September 30. The company reported a 59.1% jump in net profit, reaching Rs 103.98 crore, due to strong revenue growth. This is a significant improvement compared to the consolidated net profit of Rs 65.35 crore posted during the same period last fiscal year.
Jyothy Labs, known for its popular brands Ujala, Maxo, Exo, Henko, Pril, and Margo, disclosed these financial figures in a regulatory filing. The company’s consolidated revenue from operations also saw a notable increase, from Rs 659.2 crore in the year-ago period to Rs 732.34 crore in the quarter under review.
Although Jyothy Labs experienced higher total expenses in the second quarter, reaching Rs 610.45 crore compared to Rs 595.26 crore in the same period a year ago, the company expressed satisfaction with its product portfolio demand stability. However, Jyothy Labs Managing Director M R Jyothy acknowledged the constant pressure of inflation on FMCG products consumption.
Despite these challenges, Jyothy Labs remains optimistic about its business potential and intends to expand its distribution footprint across India. The company also aims to strengthen its brands, which have consistently contributed to business growth.
In terms of product segments, Jyothy Labs reported a 10.6% increase in fabric care sales during Q2FY24 compared to the same period last year. Additionally, the dishwashing segment experienced a 10% growth rate. The company’s sales of personal care items, including soap and toothpaste, rose 22.3% in the second quarter. Moreover, household insecticides sales grew 3.4%.
Jyothy Labs’ financial performance in Q2 reflects its resilience in the face of an inflationary environment. With a focus on expanding distribution and strengthening brands, the company is positioned for continued growth in the future.