United Spirits Shows Resilience Amidst Challenging Market Conditions

United Spirits Ltd reported a slight increase in consolidated net profit to Rs 341 crore in Q2 2024, despite a challenging demand environment. Revenue saw a marginal decline. CEO Hina Nagarajan remains optimistic, citing the reopening of business in Andhra Pradesh as a positive future influence.

United Spirits Ltd, a leading player in the alcoholic beverages industry, has reported a slight increase in consolidated net profit, which reached Rs 341 crore in the second quarter ending September 30, 2024. This rise was achieved amidst a softer-than-expected demand environment.

The company, in its regulatory filing, disclosed that its consolidated net profit was Rs 339 crore during the same quarter last year. Revenue from operations was also slightly down, recorded at Rs 6,672 crore compared to Rs 6,737 crore a year ago.

CEO & Managing Director Hina Nagarajan expressed optimism, highlighting significant structural tailwinds such as the business reopening in Andhra Pradesh after nearly five years, reinforcing faith in India's spirits industry potential and long-term growth.

(With inputs from agencies.)