Companies

Radico Khaitan Q2 profit slips 7% at ₹75 crore

PTI New Delhi | Updated on October 28, 2020

The number of new loans booked during Q2FY21 were 44 per cent lower at 36.10 lakh

Liquor maker Radico Khaitan on Wednesday reported 6.60 per cent decline in consolidated net profit at ₹74.66 crore for September quarter of the current fiscal year.

The company clocked a net profit of ₹79.94 crore in the same quarter last fiscal, Radico Khaitan said in a regulatory filing.

Revenue from operations in the quarter under review stood at ₹2,740.32 crore as against ₹2,520.05 crore in the year-ago period, it added.

Chairman and Managing Director Lalit Khaitan said after a difficult start to the financial year, the second quarter results demonstrated a sharp recovery in Radico Khaitan’s performance.

“However, the industry revival is dispersed with a few states still reeling under pressure due to a high tax regime, prolonged and local level lockdowns.

“Radico Khaitan continues to work on various fronts including new brands development, rationalisation of cost base and further strengthening our sales and distribution network. We are using technology more than ever before, across all our functions, to drive transformation in the work environment and support decision making,” he added.

Shares of Radico Khaitan settled 1.76 per cent higher at ₹453.70 apiece on BSE.

Published on October 28, 2020

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor