FMCG firm Jyothy Labs on Tuesday reported 2.59 percent rise in consolidated net profit at Rs 27.28 crore for March quarter of the last fiscal year, on account of exceptional expense of Rs 23.5 crore.
It had posted a net profit of Rs 26.59 crore in January-March 2019-20.
Revenue from operations was 26 percent higher at Rs 495.11 crore during the period under review as against Rs 393 crore in the same period a year ago, Jyothy Labs said in a regulatory filing.
Jyothy Labs said the exceptional item pertains to excise duty receivable for previous years of Rs 23.5 crore written off pursuant to change in the government policy.
The Company's Managing Director M R Jyothy said the company started this year with a positive note in spite of challenges faced due to the ongoing pandemic.
"Our performance for the year has been satisfactory backed by brand launches and improvement in market share across categories. We have been focusing on innovations and product differentiation and we believe that this will have a long term benefit for us. We have been witnessing a good traction across segments and are aligned to achieve higher growths,” Jyothy said.