INDIA: United Spirits FY profits slip, sales up

By | 16 May 2013

  • FY net profits slip by 6.4% to INR3.21bn (US$58.8m)
  • Net sales in 12 months to end of March rise by 12.3% to INR86.1bn
  • Operating profits in the year increase by 5.3% to INR10.6bn
  • Fourth quarter sales, profits up
United Spirits posted its FY results earlier today

United Spirits posted its FY results earlier today

United Spirits has reported a slight fall in full-year net profits, but grew sales by double-digits. 

The company, part of the UB Group, said earlier today (16 May) that net profits in the 12 months to the end of March fell by 6.4% year-on-year, totalling INR3.21bn (US$58.8m). Net sales, however, held firm, rising by 12.3% to INR86.1bn, as operating profits were up by 5.3% to INR10.6bn.

Volumes in the 12 months were up 3% to 123.7m cases. 

The company, which is in the process of selling a controlling stake to Diageo, said the move to premiumise its portfolio and move consumers "up the value chain" was paying off. 

For the final quarter, net profits leapt by 460% to INR560m, as net sales rose by 11.3% to INR20.94bn. Operating profits were up 22% in the three-month period to INR2.17bn, while volumes rose by 4% to 31.4m cases. Profits in the quarter were boosted by a foreign exchange gain, the company said. 

Shares in United Spirits on the Bombay Stock Exchange today closed up 0.44%

To read the company's official results, click here.

Expert analysis

Spirits in India to 2016: Databook

"Spirits in India to 2016: Databook" contains detailed historic and forecast Spirits consumption analysis, segmented at a category level. It provides year on year growth figures for the different types of Spirits available in India, as well as volume data based on price segments and alcoholic strength.

Sectors: Company results, Emerging markets – BRIC, Spirits

Companies: United Spirits, Diageo, UB Group

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