In the early morning hours of 20 September, Jyothy Labs Limited’s shares saw a 2% increase to Rs 556 following the company’s announcement that it had acquired “Quiclo,” a laundry service brand owned by Smartwash Solutions Private Limited. 

This acquisition also includes Quiclo’s customer and software database, which will help the company strengthen its presence in the laundry service sector. 

The transaction, which is estimated to be worth Rs 70 lakh plus relevant taxes, is expected to support the company’s primary laundry operation and increase its customer base, especially in Hyderabad. In a regulatory filing, the company also stated that its dry cleaning and laundry service in Hyderabad had started up for business.

FY25’s June quarter saw Jyothy Labs report a net profit of Rs 101.7 crore, up 5.7% year-on-year from Rs 96.3 crore during the same period the year prior.

Although the FMCG behemoth is certain that demand will accelerate with a regular monsoon, it acknowledges that a recovery in demand in rural regions would be essential to maintaining pace. 

In order to better target specific consumer categories, the company is expanding its presence on e-commerce platforms, introducing new SKUs, and sharpening its focus on innovation and rural distribution.

Satisfied with the operational performance, the management reiterated their dedication to fortifying their bond with clients and using their extensive product line to cover every last mile of the country. The corporation showcased efforts to expand direct distribution, increase manufacturing capacity, and boost advertising and promotion (A&P) spending in an attempt to increase brand awareness.

At 12:37 pm, the shares of Jyothy Labs were trading 0.84% higher at Rs 548.30 on NSE. 

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