Sula Vineyards has reported 1.3% fall in net revenue to Rs 141.8 crore in Q2 FY25 from Rs 143.7 crore in Q2 FY24.
The companys Own Brands revenue for the second quarter was Rs 127.2 crore, up 0.3% YoY. Sula stated the Own Brands revenue was its highest ever, driven by the Elite & Premium portfolio which recorded high-single digit growth.
The share of Elite & Premium increased to 80% in Q2 FY25 as against 74% in Q2 FY24. Along with a number of other markets, Telangana - companys third largest market were a bright spot recording strong double-digit growth in Q2 FY25.
Wine Tourism division of the company recorded revenues of Rs 12.2 crore in Q2 FY25, up 1.3% YoY. Spend per guest increased by 9% YoY and occupancy rates improved to 74% in Q2 FY25 from 66% in Q2 FY24, even amid lower footfalls.
Commenting on the business performance for Q2 FY25, Sula said that Growth in Q2 FY25 was subdued primarily due to a broader slowdown in discretionary spending at the macroeconomic level as well as challenges in key markets - policy ambiguity in Karnataka and significant issues with the Delhi Excise portal in the last 15 days of Q2 FY25.
"The company is optimistic that these setbacks are temporary and will resolve in the coming months.
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Entering into the all-important Q3, Sula is gearing up for the festive season and looks forward to hosting the much-awaited SulaFest at its Nashik vineyards, the wine producer said in a statement.
Sula Vineyards is principally engaged in the business of manufacture, purchase and sale of premium wine and other alcoholic beverages.
The company had reported 6.94% increase in consolidated net profit to 14.63 crore in Q1 FY25 as compared to Rs 13.68 crore posted in Q1 FY24. Revenue from operations (excluding excise duty) grew 11.47% year on year (YoY) to Rs 120.93 crore in Q1 FY25.
The scrip rose 0.55% to currently trade at Rs 444.50 on the BSE.
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