Published Date : Nov 03, 2015
India’s largest producer of alcoholic beverages (wine and whisky), United Spirits, has reported huge standalone profits for the second financial quarter of the year that ended in September 2015. The company has stated that its standalone profit at the end of the year’s second financial quarter was Rs 929 crore. This is a sign of extremely good growth for the company over the year; around same time last year, the company had reported net losses of Rs 27 crore. The company has said that the company was being able to report such high profits following the sale of its stake in the United Breweries during the quarter.
Net sales of the company have also gone higher, up 5.6% to Rs 2,122 crore during this quarter as compared to the 2,008 crore registered a year ago. As compared to the Rs 209 crore worth operating profit that the company registered last year, this year the figures increased to Rs 293 crore, up 40.2%.
A proper control on the overall expenditures also allowed the company to improve profitability. The expenses of the company were up only by 1.7% to Rs 1,852 crore over the quarter.
United Breweries, the company that is known to be India’s largest beer producer also reported significant profits. It stated that it had reached a standalone profit at Rs 48 crore, up by 11.6% in the second quarter of the year, as compared to the Rs 43 crore profits it had reported in the same quarter of the previous year. Sales of the company increased 6% from Rs 960 crore in the previous year to Rs 1,016 crore this year. The operating profit for the company went up 20% for the second quarter for the company from Rs 75 crore in the second quarter the previous year.