Page 10 - Liquor Firms

United Spirits second quarter profit jumps two-fold to Rs 286 crore

During the quarter, USL's off-trade gained momentum as the second wave of the pandemic started receding, while on-trade continues to gradually recover with the easing of restrictions

Delhi govt has power to float New Excise Policy 2021, observes HC

The Delhi High Court refused to stay the closure of retail vends having L7 licences for the sale of Indian liquor in private sector under the old policy with effect from September 30

HC asks Delhi govt to respond to liquor retailers' pleas to extend licences

The Delhi HC sought response of the Delhi government on two pleas by retail liquor vendors seeking to extend their licences in particular categories till Nov 16

Ethanol-petrol blending may push liquor prices up: Radico Khaitan

Prices of Extra Neutral Alcohol (ENA) may face some headwinds as the government pushes towards its target of blending of 10 per cent fuel-grade ethanol with petrol by 2022, said Radico Khaitan

Retail licence bidding to supply liquor in Delhi to open on Friday

Bidding for retail licences to supply liquor in 12 zones of the national capital will open on Friday with the Excise Department of the Delhi government

Kerala: Online booking, payment for liquor from select outlets from Aug 17

From August 17, people can book and pay online for liquor from select retail outlets of the Kerala State Beverages Corporation

Rs 3.9 trillion alcohol beverage market to grow at 6.8%: ICRIER

India is one of the fastest growing alcoholic beverages markets globally with an estimated market size of 52.5 billion dollars (about Rs 3.9 lakh crore), ICRIER has said

Bidding of retail liquor vends in Delhi by Excise dept earns Rs 5,300 cr

The initial bidding of retail liquor vends in 20 zones across the national capital by the Delhi government's Excise department on Friday raked in Rs 5,300 crore, official sources said.

United Spirits, part of Diageo, exits liquor delivery firm Hip Bar

Hip Bar Pvt Ltd had a turnover of Rs 50 lakh in the financial year ended March 31, 2020 and its net worth was Rs 7.76 crore.

Liquor firm United Spirits Q1 posts consolidate net profit at Rs 50 crore

Diageo-controlled liquor maker United Spirits Ltd on Friday reported a consolidated net profit of Rs 50.3 crore for the quarter ended June 2021, helped by double-digit growth in sales. The company had posted a net loss of Rs 246.6 crore in the April-June period a year ago when most of the liquor shops were closed (till half of the quarter) due to the national lockdown. Its revenue from operations rose 61.44 per cent to Rs 6,168.5 crore as against Rs 3,820.7 crore in the corresponding period of the previous fiscal, United Spirits Ltd (USL) said in a regulatory filing. According to the company, the net sales increased "lapping weak prior-year comparators". "The second Covid-19 wave-induced localised lockdowns impacted the sequential recovery momentum seen over the prior quarters. Off-trade remained resilient despite restrictions," USL said in a post-earnings statement. Total expenses were at Rs 6,079.7 crore, up 50.41 per cent from Rs 4,042 crore earlier. USL's 'Prestige & Above' .

Punjab's excise dept engages IIT-Ropar to audit liquor manufacturing units

Punjab's excise department on Monday said it has engaged IIT-Ropar to conduct an audit of liquor manufacturing units in the state, a move which is aimed to check any pilferage

Bespoke bars enjoy a spirited biz as home becomes venue for both work, play

The steady sale of liquor across the country despite restrictions helped

Heineken takes control of India's United Breweries cementing its position

Heineken is the world's second largest beer maker

Liquor stocks rally; Globus Spirits zooms 20%, Radico Khaitan surges 10%

In the past two days, Franklin Strategic Emerging Markets Fund IV sold 799,000 shares, representing a 2.7 per cent stake, of Globus Spirits through a bulk deal on the National Stock Exchange

Liquor sales recover, rise 6% in fourth quarter; FY21 sales fall 12%

States such as Uttarakhand, Himachal Pradesh and Haryana reported over 40 per cent growth in IMFL sales during the fourth quarter of 2020-21

Pernod Ricard eyes 10% full-year profit growth after sales beat forecasts

By 0704 GMT Pernod shares had gained 0.3% at 173.65 euros.

Matinee to Rahasya, freshly brewed Indian spirits defy Covid pandemic blues

These new launches may seem surprising given that the pandemic has hit the alcohol industry harder than most other sectors, though there are signs of a recovery

Delhi reduces legal drinking age to 21 from 25; restaurateurs cheer move

Lowering the minimum age from 25 will lead to an estimated 20 per cent rise in liquor consumption

Liquor makers object to Delhi govt's excise policy recommendations

Four liquor manufacturers raised objections to the Delhi government's new excise policy recommendations and warned that these would bring in cartelization besides hitting the government's revenue.

UK court denies release of substantial funds for Vijay Mallya's legal fees

A UK court refused to sanction the release of substantial sums held with the Court Funds Office (CFO) as part of bankruptcy proceedings being pursued against liquor tycoon Vijay Mallya