Sula Vineyards’ Q3 net profit falls to ₹28 Crore

6 Feb 2025 , 09:13 AM

Sula Vineyards announced its results for the quarter ended December 2024 on Wednesday. The company said that its Q3 net profit slipped as much as 34.90% to ₹28 Crore against ₹43 Crore in the previous corresponding quarter.

During the recent quarter, the company’s revenue from operations slipped 1.4% to ₹200 Crore. It also stated that its EBITDA fell 26.10% to ₹53 Crore. The company informed the bourses that its margins shrinked t 26.5% in the quarter under review against 35.30% owing to higher costs and lower operating leverage.

The Mumbai-based wine maker uses grapes to make a variety of wines, including red, rose, white, and sparkling wines. The company also leverages a winemaking system and other resources for production of their wines.

For the nine month period, the company announced a revenue of ₹489.20 Crore, up by 1.7% y-o-y. The company also said that its revenue outside Karnataka witnessed 8% growth on a year-on-year basis. This was fueled by a double-digit surge in Haryana, West Bengal, Rajasthan, Madhya Pradesh, Delhi, and Chandigarh.

The growth was driven by Elite & Premium wines, witnessing 5.6% growth in the quarter under review, with their share surging to an all-time high of 80.50%, compared to 77% in the previous corresponding period.

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