Sula Vineyards Q1 profit jumps 24.4% YoY to Rs 13.7 cr on good top-line; stock up 2%

India's leading winemaker Sula Vineyards reported a 24.4 percent rise in first-quarter profit on August 10, helped by strong demand for its premium wines and increased footfall at its vineyards

Shares of Sula Vineyards jumped nearly 2 percent in trade on August 10, post robust Q1 numbers. At 12:31 pm, the Sula Vineyards stock was trading 1.23 percent higher at Rs 501.75 on NSE.

India's leading winemaker Sula Vineyards reported a 24.4 percent rise in first-quarter profit on August 10, helped by strong demand for its premium wines and increased footfall at its vineyards. The Mumbai-based company, which became India's only listed winemaker in December last year, reported a consolidated net profit of Rs 13.68 crore compared with Rs 11 crore a year earlier.

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The owner of the Dindori and Rasa wine brands, reported a 21 percent rise in revenue from operations to Rs 117 crore, with its own brand segment comprising premium wine brands, accounting for about 89 percent of the top line. Revenue from wine tourism also increased 11 percent to Rs 11.4 crore due to a 70 percent jump in visitors at its winery located outside the city of Bengaluru.

Also Read: Sula Vineyards drops over 6% on excise duty notice of Rs 115 crore

Stock Performance

Sula Vineyards stock has given a return of 22.79 percent over the last six months. Consequently, the stock has outperformed the benchmark Nifty 50 index, which has given a return of 9.45 percent over the same duration.

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