Jyothy Lab net down 7.5% at Rs 68.76 cr

Jyothy Laboratories today posted a 7.5% decline in its consolidated net profit at Rs 68.76 crore for the year ended March 31, 2011 as compared to the same period previous fiscal.

The company had a consolidated net profit of Rs 74.34 crore in the year ended March 31, 2010.

"This quarter has been tough due to increase in raw material and logistics costs due to increase in crude prices. However, we have tried all possible cost control measures to maintain our gross margins," Jyothy Laboratories Chairman and Managing Director MP Ramachandran said.

During the year, the company's consolidated net sales stood at Rs 619.49 crore, a 3.57% increase from Rs 598.10 crore posted in the previous fiscal.

 

On a standalone basis, the firm's net profit increased marginally to Rs 80.26 crore during the year from Rs 80.04 crore posted in the previous fiscal.

Jyothy Laboratories' standalone net sales during the year stood at Rs 599.83 crore while it had recorded Rs 574.76 crore sales in the year-ago period.

During the year, while soaps and detergent business, which includes fabric whitener and fabric detergent among others, witnessed growth of 13.5% to Rs 385.9 crore as compared to the year-ago period.

During the fiscal, the company had acquired 50.97% stake in Henkel India from Henkel AG & Co. KGaA and 14.9% stake from TPL.

Besides, the company said Jyothy Fabricare Services, its laundry arm got private equity funding of Rs 100 crore for business valuation of about Rs 400 crore.

The Mumbai-based firm also acquired 100% stake in Diamond Fabcare and 100% stake in Akash Cleaners.

"With this, the footprint of JFSL has reached beyond Bangalore to Delhi and Mumbai with over 100 retail outlets," Jyothy Laboratories said.