United Spirits' second-quarter net profit drops 38% to Rs 339.3 crore as revenue declines 18.6%

9 Nov 2023 , 11:06 AM

On November 8, United Spirits Ltd. announced a consolidated net profit of Rs 339.3 crore for the September quarter of FY24. This is a 38.05% decrease from Rs 547.7 crore in the same period last year.

Reduced sales revenue had an adverse effect on profit. This was in spite of an extraordinary gain of Rs 30.7 crore made during the quarter from the sale of certain assets. It should be mentioned, too, that the base quarter also had an extraordinary gain of Rs 381.5 crore.

According to a regulatory filing, the company’s revenue for the last quarter was Rs 6,736.5 crore, an 18.6% decrease from Rs 8,282.7 crore in the same quarter last year.

Based on rebased comparators from the previous year, Consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 21.4 percent to Rs 467 crore.

‘Maintaining the growing pace and maximizing the potential of our portfolio offers are our top priorities going forward. We are still committed to managing revenue growth and value chain productivity in order to create long-term value for all of our stakeholders, even in the face of persistent inflationary challenges. stated CEO and Managing Director Hina Nagarajan.

For the fiscal year that ends on March 31, 2024, an interim dividend of Rs. 4 per equity share having a face value of Rs. 2 each has been announced. The eligibility of shareholders for this interim dividend will be ascertained by their ownership on Friday, November 17, 2023, the record date. On or after December 4, 2023, the declared interim dividend will be paid.

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