Vijay Mallya led liquor firm United Spirits posted rise of 5.25 percent in net profit at Rs 144.95 crore for the first quarter ended June 30.
The company had posted a net profit of Rs 137.71 crore for the same period of 2011-12. Key markets of Tamil Nadu and West Bengal continued to dampen USL’s performance during the quarter, United Spirits Ltd (USL) said in a statement.
Reuters
Net sales of the company rose to Rs 2,057.29 crore for the first quarter ended June 30, as compared to Rs 1,935.42 crore during the same period of previous fiscal. “An artificially imposed constraint on USL volumes in Tamil Nadu, against the tide of consumer demand for the company’s brands, saw USL volumes being restricted to about 70 percent of its capacity,” the company said.
The Bangalore-headquartered firm said sales were down in West Bengal during the April-June quarter, due to sharp increase in duties and taxes imposed by the state government. USL’s sales volumes grew marginally by 2 percent or five lakh cases and stood at 3.13 crore cases for the quarter.
“What is heartening, however, is the growth in what the industry refers to as prestige and above brands or the premium segments which grew sharply by 17 percent and stood at just under 80 lakh cases-an increase of 12 lakh cases over the comparable quarter of previous fiscal,” the company said.
During the quarter, flagship brand of the company—McDowell’s No 1 registered growth of 16 per cent as compared to the same period of 2011-12 fiscal. The company sells various liquor brands like Signature, Bagpiper, Antiquity, Royal Challenge, Signature in the country. Other brands in the company’s portfolio include White Mischief, Black Dog, Dalmore and Romanov.
PTI
