Tilaknagar Industries Reports 55.71% Profit Surge in Q1 2024

Tilaknagar Industries Ltd reported a 55.71% increase in consolidated net profit for Q1 2024, rising to Rs 40.08 crore from Rs 25.74 crore a year ago. Revenue rose 3.88% to Rs 664.86 crore, while total expenses increased 1.8% to Rs 626.51 crore. Sales volumes grew slightly to 25.4 lakh cases.

Indian-Made Foreign Liquor (IMFL) manufacturer Tilaknagar Industries Ltd has reported a 55.71 percent surge in its consolidated net profit, reaching Rs 40.08 crore for the April-June quarter of 2024.

The company had posted a net profit of Rs 25.74 crore in the same period last year, according to a regulatory filing by Tilaknagar Industries Ltd (TIL).

Revenue from operations saw a 3.88 percent increase, amounting to Rs 664.86 crore in the June quarter. This is up from Rs 639.97 crore in the same period last year.

Total expenses of Tilaknagar Industries grew by 1.8 percent in the quarter, totaling Rs 626.51 crore.

The company's total income, driven by brands like Mansion House Brandy, Courrier Napoleon Brandy, and Blue Lagoon Gin, reached Rs 666.60 crore.

Sales volumes saw a slight increase to 25.4 lakh cases during the quarter.

Chairman and Managing Director Amit Dahanukar mentioned that industry-wide disruptions caused by elections had muted volume growth in Q1. Southern Indian states, responsible for over 85% of volumes, experienced a 0.1% year-over-year degrowth in IMFL volumes due to these disruptions.

The company's net debt stood at Rs 42.6 crore, with an aim to be net debt free by FY25.

Shares of Tilaknagar Industries Ltd recorded a 3.14 percent rise, trading at Rs 248 on BSE on Tuesday afternoon.

(With inputs from agencies.)