J&J revenues up 5% last fiscal; marginal drop in net profit: Tofler

J&J revenues up 5% last fiscal; marginal drop in net profit: Tofler

NEW DELHI: Packaged consumer goods and pharmaceutical company Johnson & Johnson (J&J) reported revenue of Rs 6,623 crore for financial year 2019-20, a 5 per cent increase over the previous financial year, according to updated financial data accessed by business intelligence platform Tofler. The company further reported net profit of Rs 614 crore during the same fiscal, a 2 per cent decrease from the last financial year. The company’s total expenses were reported as Rs 5,341 crore.

In its standalone financial statements for the 2019-20 financial year, J&J, which makes a range of baby care and feminine hygiene products, said that at the start of nationwide lockdown, its plants, offices and supply chain activities were shut down. “This had an impact on the business operations of the company. In line with various directives of the Government allowing certain essential and other activities to resume, the company’s plants, external and contract manufacturing locations, distribution network and other operations were commenced in a phased manner,” the company, which also makes medical devices and pharmaceutical products, said.

It said it was operating in an environment fraught with external disruption, and that it would continue to monitor for material changes, if any, as the situation evolves.

Over the past one quarter, however, with the economy opening up and declining cases of Covid-19, momentum across businesses has picked up, with macro indicators signalling improved growth across consumer-facing sectors.

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