INDIA: Radico sees Q1 profits leap - report

By just-drinks.com editorial team | 1 August 2006

Indian spirits group Radico Khaitan has reportedly seen profits leap during its first quarter.

According to local reports yesterday (31 July), the distiller posted a 35% leap in net profit to INR132.8m (US$2.8m) for the three months to 30 June. Net sales were up 17% to INR1.2bn.

Radico is understood to be eyeing domestic and overseas expansion and in June formed a joint venture with UK-based group SPS. The venture, to be named SPS Radico, will help roll out the Indian group's brands in the UK spirits market.

Radico has hired Rabo India Securities as a strategic adviser to look out for international and domestic spirit brands up for sale.

The company's domestic brands include 8PM whisky, rum brand Contessa and Old Admiral brandy.

Sectors: Spirits