Country's largest spirit maker United Spirits (USL) today posted a net profit of Rs 137.71 crore for the first quarter ended June 30, 2011.
The company had reported a net profit of Rs 121.05 crore in the same period previous financial year, USL said in a filing to the Bombay Stock Exchange (BSE).
The company's total income stood at Rs 1,944.49 crore for the first quarter ended June 30.
During the same period previous fiscal the company's total income was Rs 1,470.61 crore.
The figures for the quarter under review are after giving effect to the merger of Balaji Distilleries and therefore not comparable with the figures of the same period previous fiscal, it added.
The company's board, which met today, recommended a dividend of Rs 2.50 per share, including on 52,00,639 shares allotted to the shareholders of Balaji Distilleries on January 14, 2011, consequent to its merger with the company.
USL has a portfolio of more than 140 brands, of which 20 are millionaire brands and has manufacturing and bottling units at 84 locations, across the country.
Shares of USL today closed at Rs 983 on the BSE, down 0.82% from the previous close.
