Shares of Jyothy Labs, a Mumbai-based FMCG company, zoomed to a record high in trade Tuesday after the company reported a consolidated net profit of Rs 96.25 crore for the quarter ended June, up 101.6 percent year-on-year (YoY) from Rs 47.73 crore recorded a year ago.
NSE
The company reported a 15 percent YoY growth in consolidated revenue from operations at Rs 687 crore, compared to Rs 597.20 crore in the corresponding quarter of last fiscal.
| Cons | Q1FY24 | Q1FY23 | |
| Total Income | 15.1% | 687.1 | 597.2 |
| Gross Margins | 8.0% | 47.9% | 39.9% |
| EBITDA | 96.3% | 117.4 | 59.8 |
| Ebitda Margins | 7.1% | 17.1% | 10.0% |
| PAT | 101.7% | 96.3 | 47.7 |
EBITDA, which shows the profit, including interest, tax, depreciation, and amortization, jumped 96 percent YoY at Rs 117 crore as against Rs 59.8 crore in the same period last year, the company said in a filing. Margins, meanwhile, came in at 17.1 percent versus 10 percent YoY.
| EBITDA MARGIN TREND |
| Q1FY23 10% |
| Q2FY23 12% |
| Q3FY23 14% |
| Q4FY23 15% |
| Q1FY24 17% |
In an investor presentation, Jyothy Labs said that the focus is on top line growth ahead of category growth to gain market share. The company will continue to strengthen technology led distribution, increased brand building initiatives, focus on BTL activities to drive volume growth, it said.
The company said that sustainability initiatives at the forefront will drive its long-term growth and profitability.
Fabric Care: Going forwards, the company will stay focussed on premium and value offering in detergents and enter new geography for post wash products. It will also build scale across categories.
Dish Wash: Strengthen equity on brands further to become brand of choice among consumers and gain market share, it said in an investor presentation.
Household Insecticide: The firm said that consolidate and innovate will increase market share across formats. The focus will be on innovation to drive brand affinity.
Personal Care: Leverage Margo brand equity and enter new formats or categories, it said. The company also said it will build scale through with a larger bouquet of offerings in Toilet Soap (‘TS’) category.
On Tuesday, the stock opened at Rs 244.35 and went on to hit an all-time high of Rs 283.65, up 17 percent on the NSE after the earnings were announced.
Shares of Jyothy Labs have zoomed 70 percent in a year and risen 40 percent since the beginning of this year.
First Published:Jul 25, 2023 12:07 PM IST
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