Jyothy Labs at new high

Jyothy Labs is currently the top gainer on the BSE and this is thanks to the Q1FY24 earnings.

The company reported a 102% (YoY) rise in consolidated net profit at Rs.96 crore and this was on a 15% rise in revenue from operations at Rs.687 crore.

The company’s operating EBITDA came in at Rs.117 crore, up 96% while margins rose from 10% to 17.1%.

Fabric Care sales increased by 18.1% for Q1FY24 over same period last year. The segment has seen improvement in sales across all brands. Dishwashing sales increased by 10.6% for Q1FY24. The growth was backed by its two brands portfolio wherein both Exo and Pril have been able to establish itself as the clear brand of choice among consumers. Household Insecticides sales increased by 10.1% for Q1FY24. The category has been impacted with seasonal variations and illegal incense sticks impacting the demand. Personal Care Sales increased by 21.1% for Q1FY24 over same period last year.

The stock, which had closed yesterday at Rs.242.25, went on to hit a new 52-week high today at Rs.289.15 and remains strongly in the green.