Jyothy Labs rises after good Q1 outcome

Jyothy Labs rose 3.4% to Rs 162.5 at 12:08 IST on the BSE after consolidated net profit rose 11.61% to Rs 37.38 crore on 2.2% rise in net sales to Rs 422.53 crore in Q1 June 2019 over Q1 June 2018.

The result was announced during market hours today, 23 July 2019.

Meanwhile, the S&P BSE Sensex was up by 30.75 points or 0.08% to 38,061.75.

On the BSE, 19000 shares were traded in the counter so far compared with average daily volumes of 18000 shares in the past two weeks. The stock had hit a high of Rs 164.8 and a low of Rs 154. The stock hit a 52-week high of Rs 237.65 on 25 July 2018 and a 52-week low of Rs 143.1 on 16 May 2019.

The operating earnings before interests, tax, depreciation and amortization (EBITDA) margin increased to 15.5% in Q1 June 2019 from 13.7% in Q1 June 2018.

Revenue from fabric care segment, which includes fabric whitener, enhancer, bar shop and detergent powder rose 5.4%. Revenue from dish washing segment, which includes dish wash bar, liquid and dish wash scrubber rose 1.1%. Revenue from personal care segment jumped 13.3%.

Commenting on the performance, M P Ramachandran, chairman & managing director, Jyothy Labs said, "We have started this year with a positive outlook inspite of severe drought. The first quarter of this year has witnessed consumption slowdown however we do expect that the coming quarters will accelerate the growth of the business. We have been focusing on innovations and product differentiation and we believe that this will have a long term benefit for us."

Jyothy Labs is a fast moving consumer goods company.

Powered by Capital Market - Live News