 "United Spirits gains post Q1 results")
Shares of United Spirits (USL) were trading higher by 3% at Rs 3,709 on the NSE after the company reported a standalone net profit of Rs 19.92 crore for the quarter ended June 30, 2015 (Q1) as against losses of Rs 61.8 crore in the same period last year.
Net sales of the company during the quarter under review grew 11.8% at Rs 2,006 crore against Rs 1,795 crore in the corresponding quarter of previous fiscal.
The company, majority owned by Diageo, started direct distribution/sales of relevant Diageo brands in India during the quarter. This has resulted in generation of net sales revenue of Rs 42 crore during the period," USL said in a press release.
EBITDA (earnings before interest, tax, depreciation and amortization) margins were up by 2.4 percentage points to 10.1% in the June quarter, the company added.
USL said that it is in the process of revamping its banking facilities to drive advantageous terms on its borrowings, leveraging the relationships that Diageo Plc. enjoys with global banks, and therefore is already seeing a reduction in rates which is manifested in the lower costs.
The stock touched a high of Rs 3,780 and has seen a combined 360,566 shares changing hands on the counter on the NSE and BSE till 10:10 am.
Net sales of the company during the quarter under review grew 11.8% at Rs 2,006 crore against Rs 1,795 crore in the corresponding quarter of previous fiscal.
The company, majority owned by Diageo, started direct distribution/sales of relevant Diageo brands in India during the quarter. This has resulted in generation of net sales revenue of Rs 42 crore during the period," USL said in a press release.
EBITDA (earnings before interest, tax, depreciation and amortization) margins were up by 2.4 percentage points to 10.1% in the June quarter, the company added.
USL said that it is in the process of revamping its banking facilities to drive advantageous terms on its borrowings, leveraging the relationships that Diageo Plc. enjoys with global banks, and therefore is already seeing a reduction in rates which is manifested in the lower costs.
The stock touched a high of Rs 3,780 and has seen a combined 360,566 shares changing hands on the counter on the NSE and BSE till 10:10 am.