United Spirits Q1 Results: Net profit jumps to Rs 477 crore in June quarter

United Spirits Q1 Result: United Spirits on Thursday reported a consolidated net profit of Rs 477 crore for the first quarter ended June 2023. The company had posted a net profit of Rs 261 crore in the April-June quarter of the last fiscal. Total income rose to Rs 5,830 crore in the first quarter. It stood at Rs 7,157 crore in the year-ago period.

In a regulatory filing, United Spirits said the results of the quarter were not comparable to the June quarter of last fiscal as the company completed a slump sale of the entire business undertaking associated with 32 brands to Inbrew Beverages on September 30, 2022.

United Spirits CEO & Managing Director Hina Nagarajan said the company has commenced fiscal 2024 with a robust first quarter performance.

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"While inflationary pressures remain, our strategy to reshape the portfolio combined with revenue growth management and focus on everyday efficiency is driving sustainable growth across the Prestige & Above segment," she added.

Royal Challengers Sports, the company's wholly-owned subsidiary, has stepped up its earnings, driven by revenues from the Indian Premier League new media rights cycle, Nagarajan said.

"This reinforces our longer-term confidence in the Women's Premier League. Our Sports business aligns to our core purpose of celebration and is a vital component of our consolidated portfolio," she added.

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Looking ahead, the company's priority is to maintain the growth momentum and to deliver long-term value to all the stakeholders, Nagarajan noted.

Shares of the company ended 0.48 per cent higher at Rs 975.40 apiece on the BSE.

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