United Spirits Q1 net up 54%

United Spirits, the flagship firm of billionaire Vijay Mallya’s UB Group, today reported a 54 per cent rise in its net profit for the quarter ended June 30, at Rs 179 crore, compared to the same period a year earlier.

Revenues for the quarter were up by 17 per cent to Rs 1,248 crore as compared to the same period a year before. Operating profit was up by 10 per cent to Rs 228.25 crore. Operating margins were 18.3 per cent to net sales, compared to 16 per cent in FY09.

During the quarter, the company recorded a 17 per cent growth in volume sales of its brands, coming on top of a 20 per cent growth for the previous financial year’s quarter. “The emerging trend of new consumers who are entering the market on achieving legal age drove growth in demand for the company’s products. Its volumes during the quarter were up to 25.2 million cases,” the company added.

The company said the growth in business came despite business disruptions in April and May on account of elections, particularly where these were held in phases, which resulted in a substantial number of ‘dry’ days.

...but Kingfisher loss up 54%

Vijay Mallya-promoted Kingfisher Airlines has continued its losing streak, posting an almost 54 per cent rise in its net loss at Rs 242.7 crore for the first quarter ended June 30, compared with the corresponding quarter last fiscal. Its income from operations declined by 6 per cent to Rs 1,313.6 crore from the comparable period last fiscal. The operating loss for the June quarter has nearly doubled to Rs 150.71 crore from 86.3 crore in the corresponding quarter last year.