United Spirits Ltd. on November 8 reported a consolidated net profit of Rs 339.3 crore for the September quarter of FY24, registering a decline 38.05 of XX percent from Rs 547.7 crore a year back.
Profit was hurt by lower revenue from sales. This was despite a Rs 30.7 crore exceptional gain during the quarter after selling some assets. However, it should also be noted that the base quarter also had an exceptional gain of Rs 381.5 crore.
The company's revenue stood at Rs 6,736.5 crore, falling 18.6 percent from Rs 8,282.7crore in the year-ago quarter, the company said in a regulatory filing.
Consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was at Rs 467 crore growth of 21.4 percent on rebased prior year comparators.
"Looking ahead, our priority is to sustain the growth momentum and realize the full potential of our portfolio offerings. While inflationary headwinds remain challenging, we remain focused on revenue growth management & value chain productivity in our quest of long-term value creation for all our stakeholders.” said Hina Nagarajan, CEO & Managing Director.
An interim dividend of Rs. 4 per equity share with a face value of Rs. 2 each, for the financial year ending on March 31, 2024, has been announced. Shareholders' entitlement to this interim dividend will be determined based on their ownership as of the record date, which has been set for Friday, November 17, 2023. The payment of the declared interim dividend will be made on or after December 4, 2023.
Shares of United Spirits closed 1.55 percent higher at Rs 1,099.50 on NSE.
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