Latest News | Jyothy Labs Q4 Net Profit Slips 60% to Rs 26.6 Crore
Get latest articles and stories on Latest News at LatestLY. Home-grown FMCG firm Jyothy Labs on Friday reported a 60.21 per cent slump in its consolidated net profit at Rs 26.59 crore in the March quarter, hit by COVID-induced disruptions.
New Delhi, Jun 5 (PTI) Home-grown FMCG firm Jyothy Labs on Friday reported a 60.21 per cent slump in its consolidated net profit at Rs 26.59 crore in the March quarter, hit by COVID-induced disruptions.
It had posted a net profit of Rs 66.83 crore in the January-March quarter of the last fiscal, Jyothy Labs said in a regulatory filing.
Revenue from operations was down 23.83 per cent to Rs 393 crore during the period under review as against Rs 515.98 crore in the corresponding period a year ago.
“The company was forecasting mid-single digit sales growth for the quarter before the lockdown. But due to the spread of COVID-19 from mid-March and consequent nationwide lockdown, the business operations were suddenly disrupted across the country," said Jyothy Labs in a post earnings statement.
Jyothy Labs' total expenses were at Rs 374.37 crore in Q4 FY2019-20 as against Rs 454.07 crore, down 17.55 per cent.
Its revenue from 'Fabric Care' was at Rs 155.74 crore and Rs 127.05 crore from Dishwashing during the quarter under the review.
While, 'Household Insecticides' contributed Rs 64.22 crore and personal care Rs 30.20 crore.
Revenue from Laundry service was at Rs 9.63 crore.
For the fiscal year 2019-20, Jyothy Labs' net profit was down 17.72 per cent to Rs 162.58 crore. It was Rs 197.60 crore in the previous year.
Its revenue from operations for the 2019-20 fiscal was Rs 1,711.17 crore, down 5.64 per cent. It was Rs 1,813.58 crore in 2018-19.
Commenting on the outlook, Jyothy Labs Managing Director M R Jyothy said: "Despite the disruption in operations and sales as a result of the nationwide lockdown since the last fortnight of March 2020, the company has seen positive sales growth in the month of April and May 2020."
Shares of Jyothy Labs Ltd on Friday settled at Rs 117.45 apiece on the BSE, up 6.82 per cent from their previous close.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)