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Liquor maker Radico Khaitan has posted a 77.7 per cent rise in its net profit at Rs 20.47 crore for the third quarter ended December 31, 2010, as against Rs 11.52 crore in the same period last fiscal.
Net sales
Net sales rose to Rs 363.3 crore for the current quarter (Rs 316.3 crore).
The net sales of nine months of FY 2010-11 stood at Rs 996.8 crore (Rs 849.4 crore).
The company reported a net profit of Rs 55.4 crore in nine months ended of FY 2010-11 (Rs 31.9 crore), a growth of 73.3 per cent.
Dr Lalit Khaitan, Chairman and Managing Director, Radico Khaitan Ltd said, “Radico Khaitan continues to focus on its premiumisation strategy and expects to see a strong volume growth in its mainline brands going forward. This growth is expected to be driven by ongoing momentum in the repackaged 8PM brand, market share gains in the vodka and premium brandy segments. Media campaigns launched during Q2 for 8PM & Magic Moments had a positive impact on sales volumes during the last quarter.”
He further added “Radico Khaitan also significantly increased its distribution presence in Tamil Nadu, a key brandy State, which contributed to strong year-on-year volume growth in Morpheus Brandy during Q3 FY2011. Mainline brand volume growth significantly outperformed other brands as Radico Khaitan continues to focus on its premiumisation strategy.”
Shares of Radico Khaitan were today trading at Rs 136.15 on Bombay Stock Exchange, up 1.23 per cent from its previous close.
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