Liquor firm Radico Khaitan today posted 17.08 per cent rise in net profit at Rs 21.52 crore for the third quarter ended December 31, 2013. The company had posted a net profit of Rs 18.38 crore during the same period of previous fiscal.
Net sales of the company rose by 9.1 per cent to Rs 494.3 crore, as compared to Rs 453 crore during the same period of previous fiscal.
“During the quarter, there was 20 per cent volume growth in Prestige and above brands including Morpheus Brandy and Magic moments Vodka. Also, we launched Verve and Verve flavoured vodkas in the super premium category, which helped in revenue growth,” Radico Khaitan CFO Dilip Banthiya told PTI.
Commenting on the results, Radico Khaitan Managing Director Abhishek Khaitan said the recent launch of the two new flavours in the Verve Magic Moments vodka addresses a gap in the market as new variants of vodka gain popularity among the younger population.
The company’s product portfolio includes 8 PM Whisky, Magic Moments Vodka, Morpheus Brandy, Contessa Rum and Old Admiral Brandy.
Radico Khaitan shares today closed at Rs 159.20 on the BSE, down 2.09 per cent from previous close.