BENGALURU (Reuters) – India’s Jyothy Labs Ltd on Wednesday reported a bigger-than-expected rise in quarterly profit boosted by its fabric care and dishwashing segments, sending shares up as much as 4.5%.
Consolidated net profit rose 75.4% to 673.9 million rupees ($8.25 million) in the quarter ended Dec. 31, the company, known for its affordable “Ujala” fabric care range and “Exo” and “Pril” cleaning brands, said.
Analysts on average had expected a profit of 521.8 million rupees, according to IBES data from Refinitiv.
Mumbai-based Jyothy said its affordable products helped demand and small packs of its dishwashing liquid and powders sold well in rural markets in an inflationary environment.
Sales in its fabric care segment rose 26% during the quarter, to 2.63 billion rupees, while its dishwashing unit clocked a 10% rise in sales to 2.21 billion rupees.
Consolidated revenue from operations came in at 6.13 billion rupees.
($1 = 81.6400 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru; Editing by Nivedita Bhattacharjee)
