Tuesday, July 16, 2024

Radico Khaitan Q1 consolidated net profit rises 36% to Rs 60.87 cr; sales up 59%

Liquor maker Radico Khaitan Ltd on Wednesday reported a 35.65 per cent increase in its consolidated net profit at Rs 60.87 crore for the first quarter ended June 2021, helped by volume growth and a lower base of the pandemic hit corresponding quarter.

The company had posted a consolidated net profit of Rs 44.87 crore in the April-June quarter a year ago, Radico Khaitan said in a regulatory filing.

Its revenue from operations grew 60.45 per cent to Rs 2,847.46 crore during the quarter under review, as against Rs 1,774.65 crore in the corresponding quarter of the previous fiscal.

Its sales volume of total Indian-made foreign liquor (IMFL) was up 58.8 per cent during the quarter to 5.61 million cases.

“Despite state-level lockdowns and supply chain challenges posed by COVID-19 in Q1 FY2022, we delivered a strong all-round performance. As restrictions are lifted and normalcy resumes, month-on-month volumes indicate a positive trend and we are confident of an improved industry performance, led by the Prestige & Above segment, in the coming quarters,” Radico Khaitan Managing Director Abhishek Khaitan said.

Radico Khaitan became the largest IMFL exporter out of India during Q1 FY2022, he added.

Total expenses were at Rs 2,775.37 crore in the first quarter of this fiscal, up 61.51 per cent from Rs 1,718.30 crore a year ago.

“Radico Khaitan has evaluated the impact of the pandemic on its business operations and financial position. Based on such review, there is no significant impact on the company’s assets, capital and financial resources, profitability parameters or liquidity position as at June 30, 2021,” the company said.

Over the outlook, Khaitan said, the company is “focused on further strengthening its premium products portfolio through new launches in the coming quarters and ongoing marketing investments”.

Shares of Radico Khaitan Ltd closed at Rs 829.85, up 0.45 per cent from the previous close on BSE.

The above news was originally posted on www.freepressjournal.in

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