Liquor firm Radico Khaitan today reported an increase of 16.67 per cent in its standalone net profit to Rs 25.68 crore for the first quarter ended June 30, 2017.
The company had posted a net profit of Rs 22.01 crore in the April-June quarter of the previous fiscal, Radico Khaitan said in a BSE filing.
Total income was up 13.65 per cent to Rs 1,380.72 crore during the period under review, as against Rs 1,214.88 crore of the corresponding quarter of the previous year.
"During the first quarter of FY2018, our overall sales volume declined by 5.8 per cent which was primarily due to the impact of the national highway liquor ban. Despite this pressure on sales performance, Radico Khaitan was able to deliver strong profitability," said Radico Khaitan MD Abhishek Khaitan.
The company expects the impact of the national highway ban on liquor sales will sustain for another two quarters but the severity will be less in coming quarters.
"Radico Khaitan is working closely with various state governments and industry organisations for the implementation of GST. We expect to have more clarity on the impact by the end of Q2 FY2018," he said.
Shares of Radico Khaitan today settled at Rs 129.60 on BSE, down 0.46 per cent from previous close.
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