The Hindu Business Line : United Spirits net up 34% at Rs 117 cr

Bangalore, July 23 United Spirits Ltd (USL) reported a 34 per cent growth in its net profit at Rs 117 crore on revenue of Rs 1,013 crore for the quarter ended June 30.

The 32 per cent increase in the revenue over the figure of Rs 766 crore during the corresponding period in the last fiscal was due to premium portfolios recording a 17 per cent growth in sales during the quarter.

Announcing the results for the period, a company release said despite higher input costs Earnings Before Interest, Depreciation, Taxes and Appropriations (EBIDTA) saw an improvement to 28 per cent at Rs 222 crore, up from Rs 174 crore in the corresponding period in the financial year 2008.

Profit before tax was up 30 per cent to Rs 180 crore (an increase of Rs 42 crore).

The growth in overall volumes was 19 per cent, which reflected the company’s strategy to take an opportunistic share of the bottom end of the market, as a result of favourable changes in duty structures in various States, particularly in Karnataka.

Towards the end of the last fiscal, the company, through one of its wholly owned subsidiaries Royal Challengers Sports Pvt Ltd, bought the franchise of the Bangalore Team at the Indian Premier League (IPL).

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