Nov 3, 2021
Jyothy Labs Q2 net profit down 27 percent to Rs 44 crore
Nov 3, 2021
Homegrown FMCG firm Jyothy Labs reported a 27 percent decline in consolidated net profit at Rs 44 crore ($6 million) for the September quarter, as against a net profit of Rs 60 crore it reported in the year-ago period.
The company’s revenue for the quarter rose to Rs 585 crore, as against Rs 504 crore in the corresponding period of the previous fiscal year.
Jyothy Labs expenses during the quarter rose to Rs 535 crore as against Rs 435 crore it reported in the 2020 quarter.
Commenting on the Q2 results, M R Jyothy, managing director of Jyothy Labs, in a statement said: “Our focus on execution to build scale with agility has created value for all our stakeholders. We are consistently achieving higher sales growth resulting in market share gains across categories which will strengthen the organization in the long term.”
“Though Jyothy Labs is facing margin pressure due to high raw material prices in the short-term, it has strategic levers to overcome as its sales growth has been encouraging and affirmative,” she added.
Established in 1983, Jyothy Labs owns ten brands across categories with a strong presence in the personal care segment.
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