Jyothy Laboratories has gained over 2% this afternoon on hopes of an improvement in their margins in the following quarter.
The company on Thursday reported 10.38% decline in net profit at Rs 26.05 crore for the third quarter ended December 31, 2012.
The company had posted a net profit of Rs 29.07 crore for the corresponding period of previous fiscal.
According to Chairman and Managing Director M P Ramachandran, the company has strategised plans for some brands which will be beneficial going forward. Jyothy Labs would further strengthen its global operations with the start of its Bangladesh unit by the end of FY13.
Moreover, the merger of Jyothy Laboratories with Henkel India, announced in the first quarter of FY13, will be completed by March-end. The mandatory court approval to the merger would be received by February 22, paving the way for the merger.
The stock opened at Rs 145 and dipped to a low of Rs 141. However, it recovered 7% from there to a high of Rs 150.75. It is currently trading up 2.3% at Rs 149. Around 18,000 shares have changed hands at the counter on the BSE so far, as against a two week daily traded average of 43,000 shares.
The company on Thursday reported 10.38% decline in net profit at Rs 26.05 crore for the third quarter ended December 31, 2012.
The company had posted a net profit of Rs 29.07 crore for the corresponding period of previous fiscal.
Also Read
Net sales of the company, however, rose to Rs 203.78 crore for the third quarter, as against Rs 166.31 crore for the same period of 2011-12 fiscal, Jyothy Laboratories Ltd said in a BSE filing.
According to Chairman and Managing Director M P Ramachandran, the company has strategised plans for some brands which will be beneficial going forward. Jyothy Labs would further strengthen its global operations with the start of its Bangladesh unit by the end of FY13.
Moreover, the merger of Jyothy Laboratories with Henkel India, announced in the first quarter of FY13, will be completed by March-end. The mandatory court approval to the merger would be received by February 22, paving the way for the merger.
The stock opened at Rs 145 and dipped to a low of Rs 141. However, it recovered 7% from there to a high of Rs 150.75. It is currently trading up 2.3% at Rs 149. Around 18,000 shares have changed hands at the counter on the BSE so far, as against a two week daily traded average of 43,000 shares.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%