Jyothy Lab Q3 net rises 78% at Rs 29 cr

FMCG firm Jyothy Laboratories today posted a 78.34% increase in net profit to Rs 29.07 crore for the quarter ended December 31, 2011, vis-a-vis the same period last fiscal.

In the corresponding quarter last fiscal, the company -- which sells fabric care products under the brand 'Ujala' -- registered a net profit of Rs 16.30 crore, Jyothy Laboratories said in a filing to the Bombay Stock Exchange (BSE).

During the quarter under review, the firm's net sales stood at Rs 166.31 crore, up 12.05% from Rs 148.42 crore in the corresponding period last fiscal.

"The numbers for the past two quarters had taken a hit due to internal restructuring of our distribution system post-Henkel acquisition. With the distribution system getting aligned properly, the same has started to reflect on our numbers," Jyothy Lab Chairman and Managing Director MP Ramachandran said.

During the quarter, the company said it effected a price revision of all its products to mitigate the rising price of raw materials. "The year 2012 looks positive to us and we hope to improve our numbers in the coming quarters," he said.

Scrips of Jyothy Laboratories closed at Rs 171.95 on the BSE today, up 1.42% from their previous close.