Jyothy Labs Ltd, a leading FMCG maker, has announced an impressive 59.1% increase in its consolidated net profit for the second quarter ended September 30. The company reported a net profit of Rs 103.98 crore, compared to Rs 65.35 crore in the same quarter of the previous fiscal year. This remarkable growth can be attributed to a surge in revenue.
Jyothy Labs, known for its popular brands like Ujala, Maxo, Exo, Henko, Pril, and Margo, witnessed a consolidated revenue from operations of Rs 732.34 crore in the quarter under review, surpassing the Rs 659.2 crore recorded during the corresponding period last year.
However, the company also witnessed an increase in its total expenses, which amounted to Rs 610.45 crore in the second quarter, compared to Rs 595.26 crore in the same period a year ago. Jyothy Labs’ Managing Director, M R Jyothy, acknowledged that the inflationary environment has put pressure on the consumption of FMCG products. Despite this, she expressed confidence in the company’s business potential and emphasized its continuous efforts to expand distribution across India and strengthen its brands, leading to consistent business growth.
In terms of product segments, Jyothy Labs reported a significant growth of 10.6% in fabric care sales during Q2FY24, as compared to the same period last year. Similarly, the dishwashing segment also witnessed a growth of 10% in sales. Furthermore, the sales of personal care items, including soap and toothpaste, experienced an impressive growth of 22.3% in the second quarter. Similarly, sales of household insecticides grew by 3.4%, according to the company.
Jyothy Labs’ positive financial performance in the second quarter reflects its ability to thrive in a challenging market environment. The company’s strong revenue growth and strategic brand expansion efforts have positioned it as a key player in the FMCG sector. With its consistent focus on product quality and consumer demand, Jyothy Labs is set to maintain its upward trajectory in the coming quarters.
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