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.

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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.

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