FMCG sales grew 4.1% while volumes grew 6.1%. Profit before tax (PBT) soared 32.02% to Rs 60.97 crore in Q1 June 2020 over Q1 June 2019. Current tax expense for the quarter rose 12.15% at Rs 9.78 crore during the period under review. The result was declared during trading hours today, 5 August 2020.
EBITDA for the quarter stood at Rs 76.50 crore, registering a 16.6% Y-o-Y (year-on-year) growth. EBITDA margin improved to 17.7% in Q1 June 2020 from 15.5% in Q1 June 2019.
Due to the spread of COVID-19 from mid-March and consequent nationwide lockdown, the business operations were suddenly disrupted across the country. The company quickly aligned its manufacturing operations, sales team to the new working environment. It is now operating at near pre-COVID-19 levels capacity utilisation. The impact of COVID-19 seems to have affected the rural geographies lesser in comparison to the urban cities. Accordingly, its focus remains more on general trade, rural markets and e-commerce platform. Modern trade stores (MT) and canteen stores department (CSD) operations are still facing issues on the ground.
The company's brand equity and strong distribution footprint has helped it maintain its leadership across brand categories supported by backward integration of manufacturing plants and a dedicated sales team.
Commenting on the Q1 FY2021 financial performance, M R Jyothy, the managing director (MD) of Jyothy Labs, has said that: We began this quarter with an uncertain business environment due to COVID-19 with restrictions on supply side, however, our team with flawless execution combined with our portfolio comprising of daily use 'Essential Hygiene' has delivered positive sales growth. We continue to serve the Indian consumers while scaling up our operations and also ensuring health and safety of our employees and business partners. With our differentiated product offerings, wide distribution network and innovative thought process, we are confident of meeting our consumer demands and deliver to our stakeholders' expectations”
Jyothy Labs makes and sells fabric care, dishwash, mosquito repellent and personal care. The company also runs an organized laundry chain through its subsidiary 'Jyothy Fabricare Services'.
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