United Spirits reports fiscal Q4 net earnings of 560M Indian rupees, up 460% from year-ago period as total income rises 11.3% to 20.94B rupees
May 17, 2013
(Times of India)
– United Spirits Ltd (USL), which is in the process of being bought over by the world's biggest spirits manufacture Diageo, has reported a 460% growth in net profit in the January-March quarter.
Profit was up at Rs 56 crore as compared to Rs 10 crore in the same period a year ago. Total income stood at Rs 2,094 crore, a growth of 11.3% over Rs 1,882 crore in the year ago quarter. "During the last quarter USL was successful in obtaining revenue enhancing opportunities in Andhra Pradesh and Karnataka.
These have been capitalized on and successfully implemented thereby enhancing profitability," the company said in a statement. During the quarter, USL sold 31.4 million cases registering a growth of 4% over the same period a year ago. The company's board has recommended a dividend of Rs 2.50 per share for the year ended March 31, 2013.