Jyothy Lab Q1 profit rises 57% to ₹32 crore
Jyothy Lab’s profit grew to ₹32 crore in the three months ended 30 June from ₹21 crore a year earlier
Mumbai: Detergent maker Jyothy Laboratories Ltd report a 57% rise in fiscal first-quarter net profit on the back of improving market share and growing consumer franchise for its brands.
Profit grew to ₹32 crore in the three months ended 30 June from ₹21 crore a year earlier. Net sales grew 21% to ₹405 crore as against ₹336 crore a year earlier adjusted for Goods and Service Tax (GST), the company said in a statement on Wednesday.
A Bloomberg consensus of eight brokerages estimated Jyoti to post a net profit at ₹40.92 crore on sales of ₹456.30 crore.
Operating profit margin in the last quarter expanded to 15.1% from 13% a year earlier.
“FY19 has begun at a good note for us. Our overall performance during the quarter was in line with our expectations,” said M. P. Ramachandran, chairman and managing director, Jyothy Laboratories.
The growth was broadbased and driven by all of its segments- dishwashing, house hold insecticides, personal care and fabric care.
Fabric care which includes fabric whitener, fabric enhancer, bar soap, detergent powder which saw revenue growth of 13%. Quarterly sales from the segment increased to ₹177 crore from ₹156 crore a year earlier. Profit grew to ₹33 crore from ₹30 crore.
Profit in the dishwashing segment doubled to 14 crore in the April to June period. Revenue jumped 28% to ₹133 crore.
The household insecticides segment saw its losses narrow to ₹4.7 crore from ₹5.5 crore a year earlier. The segment recorded revenue of ₹33 crore as against ₹25 crore.
Profit in the personal care segment surged to ₹10 crore from ₹2 crore a year earlier, while revenue grew 28% to ₹53 crore.
“This year, we wish to focus on increasing our consumer mind share by investing in our brand, without compromising margins. We have seen market share growth across the portfolio in current quarter and this shows that we are moving in the right direction,” said Ramachandran.
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