United Spirits net up 5.6 times to Rs 56 crore in Q4

Total income from operations has gone up 11.3% to Rs 2,094.43 crore during the quarter as against Rs 1,881.74 crore in year ago quarter

United Spirits Limited (USL), India's largest manufacturer of alcoholic beverages (spirits & wines), has reported 5.6 times growth in net profit at Rs 56 crore for the fourth quarter ended March 31, 2013 compared to Rs 10 crore reported in the corresponding quarter in the last financial year.

Total income from operations has gone up 11.3% to Rs 2,094.43 crore during the quarter as against Rs 1,881.74 crore in the year ago quarter.

The operating profit for the quarter went u 21.9% to Rs 216.60 crore as against Rs 177.60 crore in the fourth quarter last year.

During the quarter, R G Shaw & Company Limited, Shaw Scott & Company Limited, Shaw Darby & Company Limited and Thames Rice Milling Company Limited, ceased to be subsidiaries of the company.

During the January-March quarter 2013, USL India sold 31.4 million cases, showing a growth of 4% over the same quarter last year. Strategic brands of the company grew 30% and added 1.7 million cases.

"During the last quarter of fiscal 2013, USL was successful in obtaining revenue enhancing opportunities in Andhra Pradesh and Karnataka. These have been capitalised on and successfully implemented thereby enhancing profitability," the company said in a statement.

Interest costs for the quarter at Rs 157 crore are down from the comparable figure of FY12 at Rs 166.3 crore, due to repayments that were effected during the year and increased borrowing for operations as also higher rates.

The board has recommended a dividend of Rs 2.50 per share on the equity shares of the company for the year ended March 31, 2013.

The company's stock closed 0.44% higher at Rs 2,314 on BSE as against the previous close.