Jyothy Labs Q1 profit down 20% at Rs 40.20 crore on high input cost

Homegrown FMCG firm Jyothy Labs on Thursday reported 19.61 per cent decline in consolidated net profit at Rs 40.20 crore for June quarter 2021-22 on account of increase in input cost.

It had posted a net profit of Rs 50.01 crore in April-June period of the last fiscal year, Jyothy Labs said in a regulatory filing.

However, revenue from operations was up 23.94 per cent to Rs 525.40 crore during the period under review as against Rs 423.90 crore earlier.

"The company posted good results backed by recovery across all channels. Although the quarter had an impact of the second wave lockdown, the commitment from all stakeholders delivered healthy overall performance," said Jyothy Labs in a post earning statement.

Total expenses were at Rs 479.61 crore as against Rs 375.96 crore in the year-ago period.

"Due to consistent rise in input prices, there has been a margin pressure which has been partially managed with calibrated price hikes and persistent cost rationalisation measures.

"We have made good progress in strengthening our strategic levers and further expansion into rural geographies which will further aid higher growth," it said.

While revenue from Fabric Care was up 27.43 per cent at Rs 181.23 crore, Dishwashing was higher 21.95 per cent at Rs 190.96 crore.

Household Insecticides revenue was up 12.74 per cent at Rs 71.75 crore and personal care was at Rs 68.04 crore.

Shares of Jyothy Labs on Thursday settled at Rs 171.65 apiece on BSE, down 0.69 per cent from the previous close.