United Spirits Q2 net loss at Rs 27.83 cr

Spirits major United Spirits today reported a standalone net loss of Rs 27.83 crore for the quarter ended September 30, impacted mainly by rise in input cost and exceptional items.
The company had posted a net profit of Rs 94.27 crore for the corresponding period of the previous fiscal, United Spirits said in a filing to BSE.
Standalone total income from operations stood at Rs 2,178.58 crore for the quarter under consideration as against Rs 2,011.54 crore for the same period year ago, it added.
"Cost of the primary ingredient, viz. Extra Neutral Alcohol (ENA) were up nearly 13 per cent over the same quarter of the previous year, an adverse impact of Rs 37 crore," United Spirits said.

The company further during the period under review it had higher expenses under exceptional items -- a provision of Rs 63.03 crore related to sale of Whyte & Mackay and a loss of Rs 10.81 crore in the divestment of promoters shareholding in Pioneer Distilleries to comply with SEBI regulations.
"Traditionally the second quarter of the fiscal year is a lean quarter - this year was no different," it added.
However sales of Prestige and above category of brands grew 19 per cent in volume terms to clock 9.2 million cases. The overall volumes grew by 5.8 per cent to 29.7 million cases while value grew by 8.3 per cent to Rs 2,178.6 crore, it added.

Shares of United Spirits today closed at Rs 2,720.30 per scrip on BSE, up 0.81 per cent fom their previous close.