United Spirits Q3 net soars over threefold to Rs 97 cr

Riding over the robust growth of premium brands, the liquor major United Spirits (USL) today reported an over three-fold jump in its net profit for the third quarter ended December at Rs 96.85 crore.

The company had a net profit of Rs 30.59 crore during the corresponding quarter last fiscal, USL said in a statement today.

It also reported an increase of 30.54 per cent in its total income during the reporting period, at Rs 1,357.97 crore against Rs 1,040.24 crore in the year-ago period.

The company has sold over 26 million cases of Indian made foreign liquor, registering 13 per cent volume growth.

"We succeeded a good topline growth on huge volume base," UB Group Chairman Vijay Mallya said after announcing the results.

He said, the growth happened in the backdrop of high molasses prices and disruption in sales with Telengana agitations, and was primarily driven by the better performance of premium brands.

"We have handled the situation extremely well during the difficult times. We have achieved a good healthy sales volume growth in access of 13 per cent," Mallya said.