Jyothy Labs Q4 profit rises 895.7% to Rs107.4 crore
Jyothy Labs says the net sales of Rs465.6 crore for the fourth quarter was up 3.7% as against Rs448.7 crore for the corresponding quarter last year
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Mumbai: Jyothy Laboratories Ltd (JLL) on Thursday said its net profit jumped 895.7% at Rs107.4 crore in Q4 FY 17 as against Rs10.8 crore in the same period last year.
The net sales of Rs465.6 crore for the quarter ended 31 March 2017 was up 3.7% as against Rs448.7 crore for the corresponding quarter last year, a company statement said.
The operating EBIDTA margin for the quarter was at 13.1% as against 13.4% reported in Q4FY16. The company reported EPS of Rs5.91 as against Rs0.60 in the corresponding quarter last year.
For FY17, JLL reported net sales of Rs1,747.4 crore compared to Rs1,657.7 crore in FY16, reporting a rise of 5.4%. Net profit for the same period stood at Rs204.2 crore compared to Rs73.8 crore; up 176.6%.
“The business has been reeling under a tough macro environment, led by sluggish rural demand and high raw material cost. Even in such a challenging environment, the company has delivered 9 per cent growth in non-household insecticide business,” Jyothy Laboratories chairman & managing director M P Ramachandran said.
With Indian Meteorological Department (IMD) predicting above normal monsoon this season, we are confident that our household insecticides segment will perform better in the coming quarters.
Besides, we welcome the introduction of Goods & Service Tax (GST) and are quite confident on its long term benefits, Ramachandran said. Overall, a gradual pickup in consumer demand along with our focus on R&D will help us achieve good growth and significant market share, he added.