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United Spirits net up 42% in third quarter

IANS  |  Bengaluru 

United Spirits Ltd on Wednesday reported Rs 192 crore standalone net profit for the third quarter of fiscal 2018-19, registering 42 per cent annual growth from Rs 135 crore in the same period a year ago.

Sequentially, net profit, however, declined 25.9 per cent from Rs 259 crore a quarter ago.

In a regulatory filing on the BSE, the city-based Indian arm of the British liquor major Diageo said standalone revenue from operations grew 8.8 per cent annually to Rs 7,764 crore from Rs 7,137 crore in the like period a year ago and 8.9 per cent sequentially from Rs 7,128 crore a quarter ago.

Earnings before interest and tax (Ebit) grew 70 per cent yearly to Rs 298 crore from Rs 184 crore a year ago but declined 21.8 per cent from Rs 381 crore a quarter ago.

"We delivered double-digit sales growth for a third consecutive quarter this year. Net sales grew 16 per cent in the prestige and above segment and 11 per cent overall, including the popular segment," said Chief Executive Anand Kripalu in a statement later.

Though the company had a stable operating environment during the fiscal, it expects the general elections, due in April-May, to impact its sales in the first quarter of fiscal 2019-20.

"We will, however, make progress towards strategic priorities to capture the opportunity in spirits market in India," said Kripalu.

Within the Scotch portfolio, Johnnie Walker and Black & White showed robust growth.

New launches included White Walker, a limited-edition batch of Johnnie Walker whisky inspired by the hit show, Game of Thrones and a 12-year-old variant of Black & White.

In the prestige segment, brands like Signature and Royal Challenge grew faster than the category.

The popular segment accounted for 31 per cent of net sales during the first nine months, marginally less than in the same period last fiscal.

The blue-chip scrip of the company lost Rs 17.95 per share of Rs 2 face value at the end of Wednesday's trading on the BSE to close at Rs 581.25 against Tuesday's closing price of Rs 599.20 and opening rate of Rs 600.55.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 23 2019. 23:12 IST
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