United Spirits shares surge 8.5% post Q4 earnings

Shares of United Spirits (USL) today surged 8.5 per cent even as the company reported a standalone net loss of Rs 104.2 crore for the fourth quarter ended March.
The stock jumped 8.49 per cent to settle at Rs 2,267.35 on BSE. Intra-day, it soared 11.20 per cent to Rs 2,324.
At NSE, shares of the company rose sharply by 8.26 per cent to end at Rs 2,265.35.
The company's market valuation also rose by Rs 2,579.89 crore to Rs 32,950.89 crore.
On the volume front, 4.49 lakh shares of the company were tarded on BSE and over 32 lakh shares changed hands at NSE during the day.

Liquor major United Spirits yesterday reported a standalone net loss of Rs 104.2 crore for the fourth quarter ended March, mainly on account of higher expenses and impact of exceptional items.

The Diageo-controlled firm had posted a net profit of Rs 1.4 crore during the same period of previous fiscal, United Spirits said in a BSE filing.
Net sales during the quarter under review stood at Rs 6,474.2 crore as against Rs 5,930.9 crore in the year-ago period, up 9.16 per cent.
Commenting on the results, United Spirits CEO Anand Kripalu said: "We have delivered a strong set of results with 4 per cent net sales growth, despite a subdued economic environment due to demonetisation as well as the run up to the highway ban.