Diageo revenue to flow in from October: Vijay Mallya

Liquor baron Vijay Mallya says the consumer franchise for United Spirits Limted (USL) remains very strong, adding that the integration with Diageo will be done in phases. He expects revenues from Diageo to flow in from October. "The board will consider Anand Kripalu's name for USL MD post," he told shareholders at the USL annual general meeting (AGM). 

Reeling under tremendous debt-burden, Mallya, through United Breweries and other group companies, agreed in November to sell stake in United Spirits, India's largest distiller, to Diageo.
Mallya says Diageo will sell USL brands in emerging markets. Also, former Diageo CEO Paul Walsh has joined the USL board. HDFC managing director Renu Sud Karnad has joined the USL board as a director.
Speaking about the company's sales, Mallya says USL has growth 20 percent in prestige and above liquor segment. However, he says the company's market share in Tamil Nadu is down to 25 percent versus the earlier 70 percent due to ordering pattern.
Meanwhile, Kingfisher Airlines Ltd, which has been grounded for almost a year for want of cash, is in talks with a foreign investor for a potential stake sale, Mallya said on Tuesday, without naming any investor.