United Spirits shares tank 7% after Q3 results

Shares of United Spirits today slumped 7 per cent after the company reported a decline of 8.80 per cent in standalone net profit for the third quarter ended December 31.
The stock dipped 6.98 per cent to settle at Rs 3,489.05 on BSE. During the day, it dropped 8.71 per cent to Rs 3,424.
At NSE, shares of the company dived 7 per cent to close at Rs 3,487.85.
In terms of equity volume, 2.24 lakh shares of the company were traded on BSE and over 26 lakh shares changed hands at NSE during the day.
Liquor major United Spirits yesterday reported a decline of 8.80 per cent in standalone net profit to Rs 134.7 crore for the third quarter ended December 31, mainly due to market changes in certain states.

The company had posted a net profit of Rs 147.7 crore in the October-December period of the previous fiscal, Diageo- controlled firm said in a regulatory filing.
Its total income during the quarter under review was at Rs 7,160.9 crore, up 1.17 per cent, as against Rs 7,077.8 crore in corresponding quarter previous fiscal.