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Fast-Moving Consumer Goods (FMCG) maker Jyothy Labs Ltd on Wednesday posted a 34 per cent increase in its consolidated net profit for the quarter that ended December 31, 2023.
The company reported a net profit of ₹90 crore during the quarter, compared to ₹67 crore during the same quarter last year. It also reported a drop of 13.4 per cent in its profit sequentially compared with the September quarter, which was ₹104 crore.
Jyothy Labs stated that it delivered sales of ₹678 crores, an increase of 10.6 per cent against the same period last year.
The company’s revenue from operations grew by 10.6 per cent to ₹677 crore during the December quarter compared to ₹612 crore posted in the same quarter last year. Revenue from operations decreased by 7.5 per cent for the quarter, against ₹732 crore reported during the September quarter.
“The performance for the quarter has been encouraging with double-digit revenue growth and expanding profitability metrics. Our results in the last few years have demonstrated consistent growth backed by our investment towards strategic brand building, enhancing direct distribution, and manufacturing capacity augmentation. Consumer demand has been mixed with rural growth yet to pick up momentum. We strive towards volume-led growth, strengthen our brand’s market share, and achieve a higher scale of business operations for sustainable long-term value creation for all stakeholders,” said M R Jyothy, Managing Director, Jyothy Labs.
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