Shares of Jyothy Laboratories Ltd. fell dropped nearly 2% on Wednesday, November 12, after it reported a 16% drop in its net profit for the September quarter, compared to the same period last year.

Jyothy Laboratories reported a net profit of ₹88 crore in the September quarter, down 16.2% from ₹105 crore it reported during the same period last year.

Revenue remained largely flat, rising 0.4% year-on-year to ₹736 crore from ₹733 crore, while the company’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) contracted by 14.5% to ₹118 crore from ₹138.5 crore in the same quarter last year.

Jyothy Labs’ margin contracted by 290 basis points on a year-on-year basis to 16.1% from 19% during the base quarter.

Jyothy Labs is an Indian fast-moving consumer goods (FMCG) company

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