Jyothy Laboratories Ltd (JLL) today said its net profit jumped 895.7 per cent at Rs 107.4 crore in Q4 FY 17 as against Rs 10.8 crore in the same period last year. The net sales of Rs 465.6 crore for the quarter ended March 31, 2017 was up 3.7 per cent as against Rs 448.7 crore for the corresponding quarter last year, a company statement said.
The operating EBIDTA margin for the quarter was at 13.1 per cent as against 13.4 per cent reported in Q4FY16. The company reported EPS of Rs 5.91 as against Rs 0.60 in the corresponding quarter last year.
For FY17, JLL reported net sales of Rs 1,747.4 crore compared to Rs 1,657.7 crore in FY16, reporting a rise of 5.4 per cent. Net profit for the same period stood at Rs 204.2 crore compared to Rs 73.8 crore; up 176.6 per cent.
“The business has been reeling under a tough macro environment, led by sluggish rural demand and high raw material cost. Even in such a challenging environment, the company has delivered 9 per cent growth in non-household insecticide business,” Jyothy Laboratories chairman & managing director M P Ramachandran said.
With Indian Meteorological Department (IMD) predicting above normal monsoon this season, we are confident that our household insecticides segment will perform better in the coming quarters. Besides, we welcome the introduction of Goods & Service Tax (GST) and are quite confident on its long term benefits, Ramachandran said.
Overall, a gradual pickup in consumer demand along with our focus on R&D will help us achieve good growth and significant market share, he added.