United Spirits

Diageo-controlled liquor maker United Spirits on Tuesday said its consolidated net profit declined by 27 per cent to Rs 214 crore in the third quarter ended December 31, 2022. The company had reported a net profit of Rs 295 crore in the October-December quarter of last fiscal. Total income declined to Rs 6,631 crore for the period under review as against Rs 8,917 crore in the year-ago period, United Spirits said in a regulatory filing. For the nine months ended December 31, 2022, the Bengaluru-based company reported a net profit of Rs 1,023 crore as compared with Rs 632 crore in the year-ago period. Total income declined to Rs 22,079 crore as against Rs 23,306 crore in the April-December period of last financial year, it said. "We delivered a good quarter in an extremely volatile environment, carefully navigating through the route to market changes and input commodity cost inflation," United Spirits Managing Director & CEO Hina Nagarajan said. This is the first quarter post the .

The derivative analyst from HDFC Securities also recommends buying United Spirits November futures for a price target of Rs 940.

On the broader market outlook, the technical analyst sees 18,350 as the next resistance for the Nifty 50, and support at 17,800-level.

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Diageo-controlled liquor maker United Spirits Ltd on Friday reported a 91.23 per cent increase in its consolidated net profit to Rs 547.7 crore for the second quarter ended September, helped by an exceptional gain from slump sale of its business undertaking. The company had posted a net profit of Rs 286.4 crore in the July-September quarter a year ago, United Spirits Ltd (USL) said in a regulatory filing. However, its revenue from operations was almost flat to Rs 8,282.7 crore during the quarter under review as against Rs 8,208.8 crore in the corresponding period of the previous fiscal. In its earning statement, USL said: "Growth reflects resilient consumer demand in off-trade, rebounding in on-trade and continued mix improvement." USL's profit before exceptional items and tax in the September quarter was at Rs 357.5 crore as compared to Rs 389.7 crore last year. Exceptional items primarily comprise a one-time profit of Rs 381 crores arising from the slump sale of the business ...

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Commenting on the results, Diageo India CEO Hina Nagarajan said: "Our business today is ahead of pre-pandemic levels, substantiating the resilience of our category."

Regulatory overhangs will pose challenges for the alcoholic industry though it holds potential for spirit companies in the country, United Spirits Ltd (USL) said in its latest annual report.

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United Spirits's higher-priced products, called 'Prestige & Above' segment, accounted for 72.5% of net sales in FY22

USL's popular portfolio comprises around 30 entry-level lower-priced liquor brands, with an average price less than Rs 400

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The company had posted a net profit of Rs 203.3 crore in the year-ago period, according to a regulatory filing