Jyothy Labs Q1 net up 34 pc to Rs 50.01 cr

Jyothy Labs

NEW DELHI : FMCG firm Jyothy Labs on Wednesday reported 33.78 per cent increase in consolidated net profit at ?50.01 crore for the quarter ended June 30, 2020.

The company had posted a net profit of ?37.38 crore in the corresponding period a year ago.

Total income during the reported quarter stood at ?436.93 crore, up 2.22 per cent as against ?427.42 crore in the corresponding period a year ago, Jyothy Labs said in a regulatory filing.

Its expenses in the quarter under review stood at ?375.96 crore, down 0.39 per cent, compared with ?377.46 crore reported in the first quarter of the previous fiscal.

Jyothy Labs Managing Director M R Jyothy said: “We began this quarter with an uncertain business environment due to COVID-19 with restrictions on the supply side, however, our team with flawless execution combined with our portfolio comprising of daily use ‘essential hygiene’ has delivered positive sales growth.

“With our differentiated product offerings, wide distribution network and innovative thought process, we are confident of meeting our consumer demands and deliver to our stakeholders’ expectations.”

Jyothy Labs said due to the spread of COVID-19 from mid-March and consequent nationwide lockdown, the business operations were suddenly disrupted across the country.

“The company quickly aligned its manufacturing operations, sales team to the new working environment. We are currently operating at near pre-COVID levels capacity utilisation,” it added.

Jyothy Labs said the impact of COVID-19 seems to have affected the rural geographies less in comparison to the urban cities.

Shares of Jyothy Labs closed 7.18 per cent higher at ?140.40 apiece on the BSE.

This story has been published from a wire agency feed without modifications to the text.

News Source:- Livemint

For Enquiry Fill The Form

*Note:- By Agreeing to the terms & conditions, even if you are NDNC registered customer, you agree to receive call and sms from Bigprofitbuzz.com.

Facebook Iconfacebook like buttonYouTube IconTwitter Icontwitter follow button