Jyothy Labs Q1 net rises 11.61 pc to Rs 37.38 crore

FMCG firm Jyothy Labs on Tuesday reported 11.61 per cent increase in consolidated net profit at Rs 37.38 crore for the quarter ended June 30, 2019.

The company, formerly known as Jyothy Laboratories, had posted a net profit of Rs 33.49 crore in January-March period a year ago.

Total income during the reported quarter stood at Rs 427.42 crore, up 2.19 per cent as against Rs 418.22 crore in the corresponding period a year ago, Jyothy Labs said in a regulatory filing.

"We have started this year with a positive outlook in spite 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," Jyothy Labs Chairman and Managing Director M P Ramachandran said.

"We have been focusing on innovations and product differentiation and we believe that this will have a long-term benefit for us," he added.

Shares of Jyothy Labs were trading 1.37 per cent higher at Rs 159.30 apiece on the BSE.