Jyothy Labs Q4 profit rises 11.1% at ₹67.05 crore1 min read . Updated: 07 May 2019, 08:27 PM IST
- Jyothy Laboratories revenue in March quarter up 6.3% at ₹504.3 crore
- FY19 net profit rises 20.3% at ₹193.17 crore
NEW DELHI : Consumer goods firm Jyothy Laboratories on Tuesday reported a 11.1% jump in standalone net profit at ₹67.05 crore for the March quarter, with revenue up 6.3% at ₹504.3 crore.
For full-year ended March 31, 2019, the company reported a 9.3% growth in net revenue of ₹1,768.88 crore. Net profit for the year was up 20.3% at ₹193.17 crore from ₹160.53 crore in the year-ago period.
“For the last quarter volume growth 6.3% in line with value growth. All segments have done well, barring household insecticides because of seasonality issues. The dish washer segment has done well for us and that growth has been going on for the last 5 years," said Ullas Kamath, joint managing director at Jyothy Laboratories Ltd.
The maker of Ujala fabric whitener and Margo soaps reported mixed performance across segments. Jyothy operates in the fabric care, personal care, dishwashing, and household insecticides market in India.
The company’s dishwashing business performed well with a 21% jump in revenues during the March quarter at ₹161.66 crore. However, sales at the household insecticides business were down 4.4% because of a late onset of summers. During the quarter, Jyothy recorded a 2.2% jump in sales at ₹186.45 crore.
Rural markets that contribute close to 35% of the company’s sales have decelerated the growth in the last two quarters. As a result, consumers are downtrading to lower pack sizes, Kamath added.
"The slowdown is definitely visible for everybody. We have mitigated the slowdown (in the rural markets) by getting and expanding our smaller-sized SKUs," Kamath added.
However, going forward Kamath expects demand to pick pace.
For the current financial year, the company plans to double its marketing spends to ₹150 crore to aid new product launches with a lot of focus on premiumisation, Kamath added.