United Spirits Q4 results: Net profit rises over two-fold to Rs 241 crore

Diageo-controlled liquor maker United Spirits Ltd on Friday reported a two-fold increase in consolidated net profit to Rs 241 crore for the March quarter.

The company had posted a net profit of Rs 102 crore in the year-ago period, United Spirits Ltd (USL) said in a regulatory filing.

Its revenue from operations was up 12.41 per cent to Rs 6,511 crore during the quarter under review from Rs 5,792 crore a year earlier.

USL's total expenses in the March quarter were up 10.9 per cent to Rs 6,279 crore.

During the quarter, USL's consolidated net sales value (NSV) was at Rs 2,783 crore, up 11.2 per cent.

Its sports business Royal Challengers Sports Pvt Ltd (RCSPL), which owns RCB teams for IPL and WPL, has a revenue of Rs 120 crore in the March quarter.

Total income of USL, which has brands such as McDowell's, Royal Challenge, Signature, Johnnie Walker, and Black Dog in its fold, was at Rs 6,622 crore, up 14 per cent.

In March, net sales of USL Prestige and its premium liquor segment increased 6.6 per cent and accounted for 86.6 per cent of net sales.

While the popular segment accounted for 11.6 per cent of net sales during the fourth quarter of 2024. Its net sales grew 3.3 per cent during the fourth quarter.

For the financial year ended on Mar 31, 2024 USL's net profit was up 25.04 per cent to Rs 1,408 crore. It was at Rs 1,126 crore a year earlier.

However, its revenue from operations in FY24 was down 6.46 per cent to Rs 26,018 crore.

Commenting on the performance, United Spirits CEO & MD Hina Nagarajan said the company delivered double-digit growth in FY24 and returned to mid-teen margins "amidst challenging external environment".

"The year witnessed sequentially moderating demand on the back of sustained consumer inflation and post-pandemic consumption normalisation. We have continued our premiumisation intent through innovation and renovation to secure future growth," she said.

Meanwhile, in a separate filing, USL said its board in a meeting on Friday recommended a final dividend of Rs 5 per equity share of (face value Rs 2 each) for the financial year ending March 31, 2024.

Shares of United Spirits Ltd settled at Rs 1,178.30 on BSE on Friday, down 0.35 per cent from its previous close.