Liquor major United Spirits Ltd (USL) on January 27 reported an increase of 15.19 per cent in consolidated net profit at Rs 232 crore for the third quarter ended December, 2019. The company had posted a net profit of Rs 201.4 crore in the year-ago quarter, USL said in a regulatory filing.
Its revenue from operations was marginally up at Rs 7,812.3 crore during the quarter under review as against Rs 7,777.1 crore in the corresponding quarter last year.
USL CEO Anand Kripalu said, "during the third quarter, we continued to experience substantial inflation in our key raw material costs. While this resulted in significant compression in gross margin, we still delivered an EBITDA margin of 16.4 per cent, up 207bps.
More importantly, we also delivered an EBITDA margin expansion during the first nine months of this fiscal year, underlining our ability to manage all lines of the P&L to deliver margin," he said.
Total expenses of the company stood at Rs 7,503.3 crore as against Rs 7,532.8 crore.
"We saw a sequential improvement in the current quarter with overall sales growing 3 per cent, led by our Prestige and Above portfolio growth of 8 per cent, even as the broader consumption slowdown continued to weigh on the overall business," he said.
Shares of United Spirits Ltd on Monday settled at Rs 575.80 on the BSE, down 0.36 per cent over previous close.
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