Radico Khaitan Q4 PAT tumbles 20% to 33 cr

Radico Khaitan reported 20.2% fall in consolidated net profit to Rs 32.67 crore on 14.8% rise in net sales to Rs 585.36 crore in Q4 March 2020 over Q4 March 2019.

Profit before tax (PBT) stood at Rs 54.05 crore in Q4 FY20, down by 4.6% to Rs 56.65 crore in Q4 FY19. Current tax expense surged 116.69% YoY to Rs 13.89 crore during the quarter.

Total volume jumped 13.1% to 5.82 million cases in Q4 March 2020 over Q4 March 2019. Prestige & Above segment grew 11.3% while Regular & Others segment rose 13.8% YoY during the quarter. Prestige & Above segment constituted 26.4% of the total volume during the quarter compared with 26.8% in the corresponding period of the previous year.

Consolidated net profit jumped 18% to Rs 229.13 crore on a 15.7% rise in net sales to Rs 2,427.04 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). PBT stood at Rs 272.69 crore in FY20, down 4.6% from Rs 285.71 crore in FY19.

Commenting on the results and performance, Abhishek Khaitan, managing director, said: "Radico Khaitan has continued the growth momentum during FY20. Despite the ongoing economic crisis, we delivered IMFL volume growth of 12.5%, led by Prestige & Above volume growth of 15.2% (in FY20).

The current COVID-19 crisis is unprecedented and at the same time there is a lot of uncertainty around the timing of recovery from this situation. We continue to evaluate the impact of this pandemic on our business and remain cautiously optimistic.

As we move into FY2021, we will continue to take necessary steps to maintain our robust foundation and financial strength whilst at the same time delivering differentiated consumer experience."

Radico Khaitan produces and distributes branded liquor. The company operates molasses and grain distilleries and produces whiskey, rum, brandy, and vodka.

The scrip rose 1.26% to end at Rs 321.40 on Thursday.

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