Lalit Khaitan, the chairman of Delhi-based Radico Khaitan has become India’s newest billionaire with an estimated net worth of $1 billion.
Liquor firm Radico Khaitan today reported a decline of 18.82 per cent in its standalone net profit at Rs 19.70 crore for the third quarter to December, hit by demonetisation.
In an interview to CNBC-TV18, Lalit Khaitan, CMD, Radico Khaitan spoke about the first quarter performance of the company.
Abhishek Khaitan's Radico Khaitan is now the largest local player in the spirits business. But he has to watch his patch as foreign competition looms.
During the search operations conducted on liquor companies like Radico Khaitan, maker of brands like 8PM whiskey and Magic Moments vodka in the last week, the income tax department allegedly disclosed approximately Rs 100 crore from Radico Khaitan, reports CNBC TV-18’s senior correspondent Ashwin Mohan.