Radico Khaitan's Q1 profit rises 20% to Rs 22 crore

Branded liquor manufacturer Radico Khaitan ltd. (RKL) posted Rs 22 crore net profit - 20 percent higher on a year on year basis.

During the period Radico's net sales went down by 1.6 percent to Rs 460 crore from Rs 467 crore.

"We are pleased to start the new fiscal year on a positive note. Despite the overall subdued volume growth, we reported a sustained top-line performance with improved profitability during the quarter. With the anticipated recovery in the operating environment, we expect this trend to continue for the rest of the year. In line with management's strategy, we continued our focus on free cash flow generation and sustained debt reduction.This will further strengthen our balance sheet for future growth opportunities", Lalit Khaitan, Chairman and Managing Director, RKL said.