United Spirits records 140% rise in profits

United Spirits records 140% rise in profits

United Spirits Ltd has said that it has recorded a rise of 140 per cent in profits to Rs. 94.27 crore on a standalone basis during the second quarter of the financial year compared to the same quarter of the previous year.

The company had recorded a profit of Rs. 39.27 crore during the second quarter of the year. the company' s income from operations fell 8 per cent to Rs. 2,057.56 crore compared to Rs. 2,236.77 crore recorded during the same quarter of the previous year. The EPS stood at Rs 6.49 during the period compared to Rs. 3 recorded during the previous year.

The company's net income fell Rs. 33.6 crore during the second quarter of the year and Rs 39.7 crore in first-half of the year. The company's loan repayment stood at Rs 1857.4 crore from the proceeds of the issue of preference capital and the sale of shares by United Spirits' subsidiary companies to Diageo.

According to Ashok Capoor, Managing Director said that its share in the prestige grew 21 per cent in value during the quarter giving a major boost to the company.

Tagged with