United Spirits shares fall up to 4% after reports 58% decline in Q4 consolidated net profit

Shares of United Spirits on Thursday fell nearly 4 percent after the firm reported a decline of 57.82 percent in its consolidated net profit for the fourth quarter ended March 2020

Press Trust of India May 28, 2020 12:27:55 IST
United Spirits shares fall up to 4% after reports 58% decline in Q4 consolidated net profit

New Delhi: Shares of United Spirits on Thursday fell nearly 4 percent after the firm reported a decline of 57.82 percent in its consolidated net profit for the fourth quarter ended March 2020.

The stock dropped 3.54 percent to Rs 557.30 on BSE.

On NSE, it fell 3.66 percent to Rs 557.

Diageo-controlled liquor maker United Spirits on Wednesday reported a decline of 57.82 percent to Rs 49.3 crore in its consolidated net profit for the fourth quarter ended March 2020, mainly impacted by disruptions in the market and consumption slowdown on account of COVID-19.

Click here to follow LIVE news and updates on stock markets

The company had posted a net profit of Rs 116.9 crore in the January-March quarter a year ago, United Spirits said in a regulatory filing.

Its revenue from operations was down 11.86 percent to Rs 6,419 crore during the quarter under review as against Rs 7,283.1 crore in the corresponding period previous fiscal.

Updated Date:

also read

Are the young dying of heart attack due to COVID-19?
World

Are the young dying of heart attack due to COVID-19?

"During our study, we couldn't detect viral particles in the cardiac tissues of COVID-19 patients, but what we found was tissue changes associated with DNA damage and repair,"

Dengue cases climb in West Bengal, 840 new infections in run-up to festival
India

Dengue cases climb in West Bengal, 840 new infections in run-up to festival

Most of the cases have been reported from North 24 Parganas, Howrah, Kolkata, Hooghly, Murshidabad, South 24 Parganas, Jalpaiguri and Darjeeling districts

COVID-19: Active Covid cases in India rise to 46,342
Health

COVID-19: Active Covid cases in India rise to 46,342

The active cases comprise 0.10 per cent of the total infections, while the national COVID-19 recovery rate increased to 98.71 per cent.