United Spirits Q3 PAT climbs 12% YoY to Rs 529 cr

United Spirits' standalone net profit increased 11.83% to Rs 529 crore in Q3 FY26, compared with Rs 473 crore in Q3 FY25.

Revenue from operations (excluding net excise duty) jumped 7.31% to Rs 3,683 crore in Q3 December 2025, driven by solid performance in the top-half of the portfolio, partly offset by the adverse policy led impact in Maharashtra and lapping the one-time retail pipeline fill in Andhra Pradesh in prior year comparative.

Profit before tax (PBT) climbed 5.31% year on year (YoY) to Rs 654 crore in Q3 FY26.

In Q3 FY26, EBITDA stood at Rs 618 crore, up 5.1% over Q3 FY25, while the reported EBITDA margin at 16.8% contracted 35 bps year-on-year, largely due to higher A&P expenses.

Interest cost for the quarter stood at Rs 19 crore, down 5.0% year-on-year.

During the third quarter, the Prestige & Above segment accounted for 90.0% of net sales, up 80 bps year-on-year, with segment net sales rising 8.2%. In contrast, the Popular segment contributed 8.7% of net sales, down 110 bps over the same period last year, while segment net sales declined 4.6% year-on-year.

The A&P reinvestment rate stood at 14.0% of net sales, reflecting targeted and consistent investment behind key trademarks and a higher growth mix at the premium end of the portfolio.

Gross profit grew 12.6% year-on-year, while the reported gross margin expanded 219 bps to 46.9%, driven by premiumisation-led mix improvement, ongoing management productivity and the flow-through of prior-year headline pricing.

Praveen Someshwar, CEO & MD, commenting on the Q3FY26 performance, said, We have delivered a resilient quarter overall while navigating policy headwinds in one of our most salient markets. Strong momentum in Rest of India and at the top-end of our portfolio bodes well. We continue to make robust investments in our trademarks and execution capabilities to sustain the longterm value for all our stakeholders.

The board approved an interim dividend of Rs 6 per equity share (face value Rs 2) for FY26. The record date to determine shareholder entitlement has been fixed as 27 January 2026, and the dividend will be paid on or after 16 February 2026.

United Spirits is one of the leading beverage alcohol companies in India. It is a subsidiary of Diageo Plc.

Shares of United Spirits fell 2.89% to currently trade at Rs 1,280.45 on the BSE.

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