Back-to-back 52-week high: This multibagger small-cap stock zoomed on reporting robust profit growth!
The scrip witnessed a massive spurt in volume by 14.96 times on BSE.
Today, the shares of Jyothy Labs surged over 20 per cent to Rs 290.70 and hit a 52-week high on reporting a robust consolidated net profit of Rs 96.25 crore for the quarter ended June, up 101.6 percent from Rs 47.73 crore recorded a year ago. The company reported a 15 per cent YoY rise in consolidated revenue from operations at Rs 687.10 crore against Rs 597.20 crore a year ago. The scrip witnessed a massive spurt in volume by 14.96 times on BSE.
Jyothy Labs anticipates strong growth in the fast-moving consumer goods (FMCG) industry in FY24 as rural demand improves and inflation starts to reduce, while urban demand remains stable. Consumers upgrading to medium and high-value packs across several categories are driving demand. As input prices fall, FMCG firms are expected to see an increase in demand and, as a result, volume-led growth.
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Jyothy Labs is in the business of meeting the everyday needs of consumers by creating well-packaged and technologically advanced products in four segments of the fast-moving consumer goods industry. It has offerings in fabric care, dish wash, household insecticide and personal care. Its brands are household names such as Ujala, Henko, Exo, Pril, Maxo and Margo. It is also in the business of laundry services.
The shares of this company opened at Rs 243.10 and are currently locked in an upper circuit of 20 per cent at Rs 290.70. The share has given over 135 per cent return in just three years and over 73 per cent return in just one year. Till now 5,00,685 shares were traded on the counter. On July 3, 2023, the company has given Rs 3 per share dividend to its shareholder.
Disclaimer: The article is for informational purposes only and not investment advice.