United Spirits shares surge nearly 6% on Q2 profit

Shares of liquor major United Spirits today ended with nearly 6 per cent gains after the company reported a net profit of Rs 929.3 crore for the second quarter ended September.
The stock settled at Rs 3,432.15, a gain of 5.60 per cent on BSE. During the day, it soared 7.68 per cent to Rs 3,499.90.
At NSE, shares of the company jumped 5.67 per cent to settle at Rs 3,437.05.
Led by the rally in the stocks, the company's market valuation rose by Rs 2,644.66 crore to Rs 49,878.66 crore.
United Spirits yesterday reported a net profit of Rs 929.3 crore for the second quarter ended September 30, on the back of Rs 870 crore share sale in United Breweries.

The company had reported a net loss of Rs 26.9 crore for the same period of the previous fiscal.
Net sales of the company rose to Rs 2,122.17 crore during the September quarter, from Rs 2,007.8 crore a year ago, United Spirits had said in a BSE filing.
For the six months ended September, the company reported a net profit of Rs 949.22 crore compared with a net loss of Rs 85.86 crore in the same period last fiscal.