Jyothy Labs Q3 net profit jumps 77 percent to Rs 674 crore

By

Maverick Martins

Published
Feb 9, 2023

Fast-Moving Consumer Goods (FMCG) firm Jyothy Labs Ltd reported a 77 percent jump in its consolidated net profit at Rs 674 crore ($81.7 million) in the third quarter ended December 2022, as against Rs 380 crore reported in the year-ago period.

The company’s revenue for the quarter rose to Rs 6,126 crore as compared to Rs 5,390 crore reported in the corresponding period of the previous fiscal year.

Jyothy Labs attributed the rise in numbers to its strategy to build scale and gain market share backed by enhanced distribution, including reaching out to newer geographies, increase brand visibility and product innovation initiatives.

Commenting on the Q3 results, M R Jyothy, managing director of Jyothy Labs Ltd in a statement said, “We continue to drive execution-led growth to build scale. This will deliver value for all the stakeholders. Consistent market share gains build a stronger operating environment which further drives future growth opportunities.

“We have been witnessing good traction for all our product categories and are determined to achieve consistent growth momentum for the future,” Jyothy added.

Founded in 1983, Jyothy Labs owns ten brands across categories with a strong presence in the personal care segment.