Stocks

United Spirits shares fall up to 4 per cent after Q4 results

PTI New Delhi | Updated on May 28, 2020 Published on May 28, 2020

Shares of United Spirits on Thursday fell nearly 4 per cent after the firm reported a decline of 57.82 per cent in its consolidated net profit for the fourth quarter ended March 2020.

The stock dropped 3.54 per cent to Rs 557.30 on the BSE. On the NSE, it fell 3.66 per cent to Rs 557.

Diageo-controlled liquor maker United Spirits on Wednesday reported a decline of 57.82 per cent to Rs 49.3 crore in its consolidated net profit for the fourth quarter ended March 2020, mainly impacted by disruptions in the market and a consumption slowdown on account of Covid-19.

The company had posted a net profit of Rs 116.9 crore in the January-March quarter a year ago, United Spirits said in a regulatory filing.

Its revenue from operations was down 11.86 per cent to Rs 6,419 crore during the quarter under review as against Rs 7,283.1 crore in the corresponding period of the previous fiscal.

Published on May 28, 2020
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