Diageo-controlled United Spirits Ltd (USL) today reported a standalone net profit of Rs 211 crore for the fourth quarter ended March 2018 helped by an overall net sales growth.
The company had posted a net loss of Rs 104.2 crore in the January-March period a year-ago, USL said in a regulatory filing.
Its total income during the quarter under review was up 7.96 per cent to Rs 7,021.4 crore as against Rs 6,503.7 crore in the corresponding quarter of the previous fiscal.
USL CEO Anand Kripalu said, "Underlying net sales growth during the quarter was 9 per cent largely driven by a strong performance of our prestige and above segment whose underlying net sales were up 14 per cent."
He added that USL performance has "substantially improved" in the fourth quarter as several regulatory challenges are now behind it.
The improved performance in the fourth quarter contributed to deliver an overall underlying net sales growth of 1 per cent in the full year, he said.
"In the year underlying gross margin improved 294bps, despite the negative impact of GST, which we managed to more than offset by positive mix, pricing and a relentless focus on our productivity program," Kripalu added.
Its total expenses during the period was at Rs 6,722.1 crore as against Rs 6,351.4 crore, up 5.83 per cent.
For the entire 2017-18, USL's consolidated net profit was up over six-fold to Rs 651.9 crore, compared to Rs 93 crore in 2016-17.
Its total consolidated income stood at Rs 26,774.8 crore as against Rs 25,862.1 crore in 2016-17, up 3.52 per cent.
Shares of USL today settled at Rs 3,122.05 apiece on BSE, down 2.85 per cent from their previous close.
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