Net sales for the quarter ended September rose 11.5% to Rs3,170 crore due to the return to Andhra Pradesh and a favorable base, although growth was partially offset by policy changes in Maharashtra.
“We delivered a strong quarter in terms of revenue and EBITDA growth and ended the first half in line with our expectations, while weathering regulatory headwinds in Maharashtra,” said Praveen Someshwar, managing director at Diageo India. “Looking ahead, the second half is the all-important festive, holiday and wedding season.”
Sales from the prestige and premium segment, which includes premium brands including Johnnie Walker, grew by 12.4% and accounted for almost 90% of total sales. The popular or mass segment grew by 9.2%.
Gross profit rose 16.2%, while margins rose 190 basis points to 47.1%, which the company attributed to pricing measures, improved mix, cost efficiency and stable input costs. EBITDA rose 32.5% to Rs672 crore, while margins improved 337 basis points to 21.2%.
On Thursday, shares of United Spirits closed 0.4% higher at Rs1,393 on the BSE.
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