Shares of Jyothy Labs rose 2% on May 3 after the company reported a notable increase in profit for the March quarter, driven by a sharp improvement in operating performance.

Consolidated profit for the quarter ended March FY23 was Rs 59 crore, up 55.4% from Rs 37.98 crore in the same period last year.

Operating income for the quarter stood at Rs 617 crore, an increase of almost 13% across divisions compared to the previous fiscal period.

The operating figures for Q4FY23 were strong, with EBITDA up 59.4% YoY to Rs 91.3 crore and margin up 430 bps YoY to 14.8%.

The FMCG company reported a 48% rise in full-year profit at Rs 240 crore on a 13.2% increase in revenue at Rs 2,486 crore compared to the previous fiscal.

Jyothy Labs said in its exchange filing: “We continue to deliver healthy performance across all categories and channels, with double-digit growth in both the quarter and year and 2- and 3-year CAGR. “

During the year, “our direct reach has surpassed 1.1 million retail stores, which has further strengthened our distribution and has been enhanced through the implementation of Botree as a distributor management system”, the company said.

The company has declared a dividend of Rs 3 per share for FY22-23. The stock was trading at Rs 195.05 on the NSE, up 1.46% by 2:33 pm.