Liquor maker Radico Khaitan on Thursday reported a 20.20 percent drop in its consolidated net profit at Rs 32.67 crore for the quarter to March 2020.
The company had posted a consolidated net profit of Rs 40.94 crore in the January-March quarter a year ago, Radico Khaitan said in a BSE filing.
However, its revenue from operations was up 11.66 percent at Rs 2,209.11 crore during the quarter under review as against Rs 1,978.26 crore a year earlier, driven by volume growth in Indian Made Foreign Liquor (IMFL).
During the quarter, Radico Khaitan had "total IMFL volume of 5.82 million cases (+13.1 percent)".
Radico Khaitan's total expenses in Q4 FY2019-20 stood at Rs 2,148,67 crore as against Rs 1,925.19 crore, up 11.60 percent.
For the entire fiscal (2019-20), its net profit was up 18.02 percent at Rs 229.13 crore. It was Rs 194.13 crore in the previous year.
Its revenue from operations in the fiscal was Rs 9,417.89 crore, up 16.87 percent. It was Rs 8,058 crore in 2018-19.
Commenting on the results, Radico Khaitan Managing Director Abhishek Khaitan said: "Radico Khaitan has continued the growth momentum during FY2020. Despite the ongoing economic crisis, we are pleased to deliver IMFL volume growth of 12.5 percent, led by Prestige and above segment volume growth of 15.2 percent. Net revenue from operations during FY2020 increased by 15.7 percent."
On the outlook, the company said it would continue to take necessary steps to maintain its financial strength while delivering differentiated consumer experience.
"We continue to evaluate the impact of this pandemic on our business and remain cautiously optimistic. We have a resilient capital structure and robust brand portfolio to enable us to step towards a brighter and healthier future once this is over," said Radico Khaitan Chairman and MD Lalit Khaitan.
Meanwhile, in a separate fling, Radico Khaitan informed that its board in a meeting held on Thursday approved a final dividend of 100 per cent which is Rs 2 per equity share amounting to Rs 26.70 crore subject to approval of the shareholders in the annual general meeting.Shares of Radio Khaitan Ltd on Thursday settled at Rs 321.40 apiece on the BSE, up 1.26 percent from their previous close.