United Spirits reports 69 pct increase in net profit during Q2 2018-19
Liquor major United Spirits on Wednesday reported a 68.97 per cent jump in standalone net profit to Rs 258.7 crore for the quarter ended September 2018 helped by improved sales performance.
The company had posted a net profit of Rs 153.1 crore in the July-September quarter a-year-ago, the Diageo-controlled firm said in a regulatory filing.
Its revenue from operations during the quarter under review was at Rs 7,128.2 crore, up 14.70 per cent compared to Rs 6,214.6 crore in the corresponding quarter of the previous fiscal.
According to USL, it "reported net sales increased 14 per cent delivered through the continued strong performance of the Prestige and Above segment, an improved performance in the popular segment as well as benefitting from lapping the impact of the highway ban in the same period last year."
Commenting on the results, USL CEO Anand Kripalu said, "We have delivered robust gross margin improvement both in the quarter as well as the first half, driven mainly by savings from our productivity programme which more than offset the adverse impact of inflation."
United Spirits total expenses were at Rs 6,772.3 crore as against Rs 5,995.4 crore, up 12.95 per cent.
Shares of United Spirits on Wednesday closed at Rs 574.55 on BSE, up 2.42 per cent from the previous close.
(With inputs from agencies.)