UBL Q1 Net Profit Jumps 37 Percent to INR 222 cr
Its total income during the quarter under review stood at Rs 4,173.18 crore, up 9.24 per cent, as against Rs 3,820.18 crore in the corresponding quarter of the previous fiscal, UBL said in a regulatory filing.
"In Kerala and Maharashtra (excluding Mumbai) the market reversed the highway ban induced negative trend of the previous quarters. Following the new excise policy in Uttar Pradesh effective April 1, 2018, a large number of new wholesale licenses were granted, boosting industry growth," it added.
The company said, however, the market in West Bengal is still challenging, as market volumes remain impacted by the steep excise duty increase introduced in the fourth quarter.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)