Jyothy Labs Q1 profit down 20 per cent at ₹40 cr

PTI New Delhi | Updated on July 29, 2021

Jyothy Labs, which has brands like Ujala and Exo, has also increased its retail reach in both rural and urban areas. File Photo   -  Bloomberg

The quarter had an impact due to the second wave lockdown amid rise in input prices

Homegrown FMCG firm Jyothy Labs on Thursday reported 19.61 per cent decline in consolidated net profit at ₹40.20 crore for June quarter 2021-22 on account of increase in input cost.

It had posted a net profit of ₹50.01 crore in April-June period of the last fiscal year.

However, revenue from operations was up 23.94 per cent to ₹525.40 crore during the period as against ₹423.90 crore earlier.

"The company posted good results backed by recovery across all channels. Although the quarter had an impact of the second wave lockdown, the commitment from all stakeholders delivered healthy overall performance," said Jyothy Labs in a post earning statement.

Total expenses were at ₹479.61 crore as against ₹375.96 crore in the year-ago period.

"Due to consistent rise in input prices, there has been a margin pressure which has been partially managed with calibrated price hikes and persistent cost rationalisation measures.

"We have made good progress in strengthening our strategic levers and further expansion into rural geographies which will further aid higher growth," it said.

While revenue from Fabric Care was up 27.43 per cent at ₹181.23 crore, Dishwashing was higher 21.95 per cent at ₹190.96 crore.

Household Insecticides revenue was up 12.74 per cent at ₹71.75 crore and personal care was at ₹68.04 crore.

Shares of Jyothy Labs on Thursday settled at ₹171.65 apiece on BSE, down 0.69 per cent from the previous close.

Published on July 29, 2021

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