Jyothy Labs Q1 net up 34 pc to Rs 50.01 cr

Its expenses in the quarter under review stood at Rs 375.96 crore, down 0.39 per cent, compared with Rs 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.

FMCG firm Jyothy Labs on Wednesday reported 33.78 per cent increase in consolidated net profit at Rs 50.01 crore for the quarter ended June 30, 2020. The company had posted a net profit of Rs 37.38 crore in the corresponding period a year ago.

` Total income during the reported quarter stood at Rs 436.93 crore, up 2.22 per cent as against Rs 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 Rs 375.96 crore, down 0.39 per cent, compared with Rs 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 Rs 140.40 apiece on the BSE..

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)