Jyothy Laboratories Q2 Net soars to Rs 21 cr

Company posted a net profit of Rs 1.32 crore during the same period of previous fiscal

FMCG firm Jyothy Laboratories today reported over fifteen-fold increase in its net profit at Rs 20.87 crore for the second quarter ended September 30, mainly on the back of robust sales in soap and detergent segment.

The company had posted a net profit of Rs 1.32 crore during the same period of previous fiscal, Jyothy Laboratories Ltd (JLL) said in a filing to the BSE.

Net sales of the company rose to Rs 305.91 crore for the second quarter, as against Rs 229.82 crore in the same period of previous financial year.

Commenting on the result, JLL Chairman and Managing Director MP Ramachandran said: "In a volatile and uncertain environment, we continue to sustain our growth momentum. We remain committed to our investments in brand building and brand extension exercise."

In coming quarters, the company plans to offer innovative products to its consumers and is confident of achieving the target for FY'14 through disciplined execution in the market place, he said.

During the period under review, the company's soaps and detergent business, which includes brands like Ujala and Henko, posted sales of Rs 228 crore as against Rs 168 crore in the same period of previous fiscal.

The company's home care business, which includes products such as mosquito coils, reported sales of Rs 77 crore for the second quarter, as compared to Rs 57 crore during the same period of last financial year.

Shares of Jyothy Laboratories closed at Rs 189.75 apiece on the BSE, up 6.65% from their previous close.