United Spirits Ltd, part of Diageo, has reported an almost two-fold increase in its consolidated net profit for the March quarter—a big performance by the company. The regulatory filing showed a consolidated net profit for the period of Rs 241 crore against Rs 102 crore in the same period a year ago.
The revenue from operations of United Spirits Ltd for the quarter rose to Rs 6,511 crore—a growth of 12.41 per cent compared to Rs 5,792 crore in the last year.
The total expenses of the company for the March quarter were recorded at Rs 6,279 crore—a 10.9 per cent increase.
United Spirits Ltd recorded a good increase in its consolidated net sales value (NSV) for the quarter, which was Rs 2,783 crore, reflecting a 11.2 per cent increase.
The company has a large revenue-generating sports business arm, Royal Challengers Sports Pvt Ltd (RCSPL), which manages the RCB teams for IPL and WPL. RCSPL revenue was to the tune of Rs 120 crore in the March quarter.
United Spirits Ltd offers a varied brand portfolio, which includes McDowell's, Royal Challenge, Signature, Johnnie Walker, and Black Dog. All these together led to a total income of Rs 6,622 crore for the company, recording a 14 per cent growth.
On a sales performance basis, the USL Prestige and premium segment recorded a 6.6 per cent increase, contributing to 86.6 per cent of the net sales. The popular segment recorded a contribution of 11.6 per cent of the net sales, showing a growth of 3.3 per cent during the fourth quarter of 2024.
For the fiscal year ending on March 31, 2024, United Spirits Ltd posted an impressive increase in net profit by 25.04 per cent to Rs 1,408 crore from Rs 1,126 crore in the previous year. However, revenue from operations saw a marginal dip of 6.46 per cent during FY24 to Rs 26,018 crore. "amidst challenging external environment".
"The year witnessed sequentially moderating demand on the back of sustained consumer inflation and post-pandemic consumption normalisation. We have continued our premiumisation intent through innovation and renovation to secure future growth," pointed out.
In a separate notice, United Spirits Ltd announced that the board, at its meeting, recommended a final dividend of Rs 5 per equity share for the financial year ending March 31, 2024.\n\nIn the wake of positive financial measures, the shares of United Spirits Ltd were trading at Rs 1,178.30 on BSE on Friday, a marginal loss of 0.35 per cent over the previous close.
