Other income increased by 2.9x YoY to Rs 13 crore during the quarter.

Operating EBITDA declined by 5.4% to Rs 59.8 crore in Q1 FY23 from Rs 63.3 crore in Q1 FY22. Operating EBITDA margin in Q1 FY23 was 10% as against 12% in Q1 FY22.

The FMCG company said that the quarter witnessed household budget of the consumer being impacted by high inflationary pressure leading to an overall dip in the consumption of FMCG products.

"We have leveraged on our expanded distribution platform which has helped us to mitigate the slowing consumption environment by focussing on sales of our existing product portfolio in newer geographies,” the company added.

It further stated that given the hot summers with record temperatures this year, the demand for main wash, post wash and soap segment products have seen a good increase while the extreme weather adversely impacted the household insecticide sales, especially in the company's core market of North and East of India.

The profitability was impacted due to significant input costs inflation persisting across its product categories. M R Jyothy, managing director, Jyothy Labs Limited said “Our operating performance has been stable inspite of several short term challenges on demand side and high input prices.

We have delivered double digit revenue growth for the last few quarters and will focus on relentless execution and are determined to continue to win market shares by building scale in our operations.”

Jyothy Labs is a multi brand FMCG company, involved in the manufacturing and marketing of products in fabric care, dishwash, mosquito repellent and personal care.