FMCG company Jyothy Labs Ltd on Thursday posted a 11.96 per cent drop in its consolidated net profit to ₹45.02 crore for the third quarter ended December 31, 2019. It had posted a consolidated net profit of ₹51.14 crore in the corresponding quarter last year.

The company, which has brands like Ujala and Exo, registered a revenue from operations of ₹420.79 crore during the quarter under review, down by 5.9 per cent from the year-ago period’s ₹447.33 crore.

“The economy has seen an overall slowdown in the past quarters which has impacted consumer demand for FMCG products, more notably rural demand and working capital constraints faced by channel partners. However, recent initiatives announced in the Budget will increase disposable income with middle class individuals and propel consumption in rural India,” said MP Ramachandran – Chairman & Managing Director, Jyothy Labs Ltd.

Despite the general slowdown, Jyothy Lab’s market share across its brands has been growing and it continues to focus on technology-led distribution and providing best quality products to customers, he added.

As for the company’s segmental performance, in the fabric care segment, the consolidated net revenue for the quarter stood at ₹172 crore, as against ₹193 crore of the corresponding quarter last year. In the dishwashing segment, the consolidated net revenue for the quarter stood at ₹150 crore, same as that of the corresponding quarter last year. In the household insecticides segment, the consolidated net revenue stood at ₹42.6 crore as against ₹41.9 crore of Q3FY19. As for the personal care segment, the consolidated net revenue during the quarter was ₹36 crore, compared to the year-ago period’s ₹40 crore.

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