Radico Khaitan Q2 net up 94% to Rs 19 cr

Radico Khaitan Ltd today said its net profit rose by 94.02 per cent to Rs 18.84 crore for the second quarter ended September 30, on the back of robust sales in all product segments.

The company had a net profit of Rs 9.71 crore in the same period previous fiscal.

Its net sales rose to Rs 221.87 crore for the second quarter, compared to Rs 171.80 crore in the same period previous fiscal, Radico Khaitan said in a statement.

"Management remains focused on our long term strategy of premiumisation which together with an aggressive marketing plan continues to build brand recognition and momentum," Radico Khaitan CMD Lalit Khaitan told PTI.

Khaitan also said that the company is currently test marketing two brands Eagle and After Dark in the premium whiskey segment in certain markets.
   
"One of these two brand would be rolled-out nationally by the end of current fiscal and it will be priced at Rs 400-450 per bottle," Khaitan said.

The company also said that it expects a further boost in its business in the next two quarters due to the festive season and the softening of molasses prices, which is a basic raw material for producing spirits.

For the six months ended September 30, the company posted a net profit of Rs 34.89 crore, compared to Rs 20.41 crore in the same period last fiscal.

The company's net sales for the six months ended September 30, rose to Rs 455.59 crore, as compared to Rs 355.32 crore in the same period last fiscal.

"Radico's focus continues to be on building strong brands, premiumization of our product portfolio and profitable growth," Radico Khaitan MD Abhishek Khaitan said.

Shares of Radico Khaitan were today trading at Rs 178.30 on the Bombay Stock Exchange in the afternoon trade, up 1.11 per cent from the previous close.