Jyothy Labs on Wednesday reported its fiscal fourth quarter profit at Rs 78.16 crore, up 32.4 per cent in comparison to Rs 59.03 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 659.99 crore, up 7 per cent as against Rs 616.95 crore during the fourth quarter of the previous fiscal. The company EBITDA stood at Rs 108.9 crore, up 18.5 per cent on-year.
Jyothy Labs delivered sales of Rs 660 crore for Q4FY24, up 7 per cent against the same period last year. “During the year, we have focussed on enhancing our distribution reach thereby surpassing our direct reach at 1.2 million retail outlets, focussed on new launches, increasing engagement with consumers thereby strengthening our core business,” it said.
The company board also recommended a dividend of Rs 3.50 per equity share of Re 1 each for the financial year 2023-24. “The Dividend, if approved at the ensuing Annual General Meeting, will be paid/ dispatched on or after July 27, 2024,” the company said in a regulatory filing.
Jyothy Labs’ Q4 performance across segments
Fabric Care sales increased by 10 per cent for Q4FY24 over the same period last year and 12.6 per cent for the full year. “We continue to witness healthy growth in our Fabric care portfolio by maintaining a sharp focus on delivering value in main wash detergents and expanding into new territories for post-wash products. Our expanded distribution is aiding in faster growth and expansion across product categories,” the company said.
Dishwashing sales increased by 6 per cent for Q4FY24 and 8.3 per cent for the full year. “We continue to enhance the brand equity by driving LUP’s, enhanced digital awareness, ground activations to solidify our position as the preferred choice among consumers and capture a larger share of the market,” Jyothy Labs said.
Personal Care Sales increased by 18 per cent for Q4FY24 over the same period last year and 21.1 per cent for the full year. Its Neem based Margo Soap has delivered a robust performance.
Household Insecticides sales are down by 9.8 per cent for Q4FY24 and flat for the year. The decline is due to seasonality impacting the demand.
MR Jyothy, Chairperson and Managing Director, Jyothy Labs Limited, said “We have delivered a healthy performance for the quarter and for the year with expanding profitability. Our last 4 years have been a consistent double digit revenue growth with a focus on relentless execution and drive towards higher business scale. We continue to focus on innovation, invest in our brands, expand distribution with aid of technology and be future ready. With the rise of disposable incomes, we believe there exists an immense future potential in the categories in which we are present. We would always strive to offer the best value to our consumers and all stakeholders.”
The board of directors also appointed MR Jyothy as the Chairperson of the board of directors of the company with effect from May 15, 2024 and re-designated MR Jyothy, currently the Managing Director of the company as the Chairperson and Managing Director, with effect from May 15, 2024.