Radico Khaitan's profit rises by 10% to Rs 68 crore in Apr-June quarter

Liquor maker Radico Khaitan on Thursday reported a 10.11 per cent increase in its consolidated net profit to Rs 68.26 crore for the June quarter, aided by premiumisation and easing raw material prices.

The company had posted a consolidated net profit of Rs 61.99 crore in the April-June period a year ago, Radico Khaitan said in a BSE filing.

Its revenue from operations rose 26.36 per cent to Rs 4,023.31 crore in the first quarter of the current fiscal as against Rs 3,183.80 crore in the year-ago period.

During the quarter, "total IMFL (Indian-made foreign liquor) volume was 7.36 million cases, up 7.9 per cent", said an earning statement from Radico Khaitan.

Radico Khaitan's total expenses were up 26.66 per cent to Rs 3,940.41 crore during the quarter.

The total revenue of Radico Khaitan, which owns brands like Jaisalmer, Magic Moments, Morpheus Brandy and Rampur Indian Single Malt, was at Rs 4,024.43 crore, up 26.23 per cent versus a year ago.

Radico Khaitan Managing Director Abhishek Khaitan said, "We have delivered another quarter of strong double-digit volume growth in prestige and above category, which has exceeded our earlier guided growth rate of 15-18 per cent."

Overall, it has recorded significant improvement in sequential margins, which have been sustained on a year-on-year basis, he added.

"This was aided by strong efforts on driving premium value growth, price increase received over the last four quarters, supported by easing inflation in certain raw materials," Khaitan added.

Shares of Radico Khaitan Ltd on Thursday settled at Rs 1,447.1 on BSE, up 0.97 per cent from the previous close.