INDIA: Tilaknagar Industries sees profits soar in YTD
- Nine-month net profits up by 26% to INR435.9m
- YTD sales rise by 27.7% to INR4.99bn
- Operating profits increase by 22.5% to INR1.1bn
- Q3 volumes increase by 20% in Q3
Tilaknagar Industries has reported a healthy jump in nine-month profits and sales helped by a “premiumisation” strategy.
Net profits in the nine months to the end of December were up by 26% to INR435.9m, the group, which operates in the Indian Made Foreign Liquor (IMFL) sector, said on Tuesday (5 February). Sales in the period rose by 27.7% to INR4.99bn.
Operating profits in the year-to-date increased by 22.5% to INR1.1bn.
Amit Dahanukar, Tilaknagar's chairman & MD, said the implementation of a “premiumisation strategy” had boosted the group's performance and offset a rise in “key raw material and packaging costs”.
TI said it will look to expand into north India in the coming fiscal year.
Dahanukar added: “We will continue to actively evaluate ways to further benefit from our assets and build on our strengths, focus on premiumsation, drive profitability for our brands and geographic expansion.”
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