Higher costs drag Jyothy Labs Q3 net down 10% to Rs 26cr
Jyothy Laboratories' third quarter net profit declined 10 percent year-on-year to Rs 26 crore on the back of higher expenses and increased finance costs.
February 12, 2013 / 17:38 IST
Moneycontrol Bureau
Jyothy Laboratories' third quarter net profit declined 10 percent year-on-year to Rs 26 crore on the back of higher expenses and increased finance costs.The fast moving consumer goods maker's net sales were up 23 percent to Rs 204 crore.The maker of Ujala Washing Powder saw its finance costs surge to Rs 17 crore from Rs 2 crore a year ago, while tax expenses rose to Rs 7 crore from Rs 5 crore.Jyothy's total expenses in the quarter were up 18 percent year-on-year to Rs 171 crore, while raw material costs increased 18 percent to Rs 67 crore.Its profit from operations before other income, finance cost and tax was at Rs 33 crore, up 50 percent year-on-year.Among key segments, soaps and detergent sales were up 32 percent to Rs 158 crore. Homecare sales, however, were down 4 percent to Rs 45 crore.Profit from soaps and detergents increased to Rs 31 crore from Rs 27 crore, while homecare business reported a profit of Rs 4 crore, versus a loss of Rs 3 crore in the year ago quarter.Jyothy Labs shares slipped to a low of Rs 140.30 post the results, but reversed losses to close at Rs 145.70, up 1.1 percent. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
