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Liquor maker Radico Khaitan Ltd on Wednesday reported a 13.36 per cent increase in its consolidated net profit to Rs 77.38 crore for the first quarter ended June 2024.
The company had posted a consolidated net profit of Rs 68.26 crore in the April-June quarter a year ago, according to a BSE filing from Radico Khaitan.
Its revenue from operations was up 9.12 per cent to Rs 4,265.62 crore during the quarter under review. It was Rs 3,908.94 crore in the corresponding quarter of the previous fiscal.
Radico Khaitan's total expenses increased 8.93 per cent to Rs 4,167.92 crore in the June quarter.
The total income of Radico Khaitan in the June quarter was at Rs 4,269.30 crore, up 9.18 per cent.
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In the June quarter, its total IMFL volume (Indian-made foreign liquor) decreased by 4 per cent whereas the Prestige & Above category volume grew 14.3 per cent," said an earning presentation by makers of Rampur single malt, Magic Moments Vodka and Jaisalmer Indian Craft Gin.
While Prestige & Above (premium) net revenue growth was 19.1 per cent compared to Q1 FY2024.
"We expect to continue to deliver a double-digit premium volume growth in FY2025. Non-IMFL revenue growth was due to full distillery capacity utilization of the Sitapur plant which was commissioned during Q3 FY2024," it said.
Commenting on the results, Chairman & Managing Director Lalit Khaitan said: "During Q1 FY2025, we achieved strong premium volume growth despite a challenging operating environment. External factors such as lower consumption growth concerns about ongoing foodgrain inflation, and volatile commodity prices did not deter us from delivering robust operating performance."
"We remain confident in the medium to long-term potential of the Indian IMFL sector. With our distinguished portfolio of luxury and premium brands, coupled with our execution expertise and an expansive distribution network, Radico Khaitan is well-positioned to seize forthcoming industry opportunities," he said.
Shares of Radico Khaitan Ltd on Wednesday settled at Rs 1,665.90 on BSE, down 0.12 per cent from the previous close.
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