INDIA: Radico Khaitan toasts strong Q1
Radico Khaitan sees strong Q1 trading
Radico Khaitan has reinforced the rosy picture of India's spirits market by reporting a jump in net profits and a sharp rise in sales for its fiscal first quarter.
Net sales rose by 23% to reach INR2.34bn (US$50m) for the three months to the end of June, compared to INR1.9bn in the same period of last year, Radico Khaitan said yesterday (27 July).
Net profits for the quarter leapt by almost 50%, to reach INR160.5m versus INR107m a year previously.
Operating profits increased to INR272m for the three months, compared to INR241m last year, said the group, which operates a joint venture in India with Diageo.
In May this year, the Indian Government cleared Diageo to take full control of its 50-50 venture with Radico Khaitan. Diageo confirmed to just-drinks at the time that the two firms were in talks about "the future of the joint venture".
A down-in-the-dumps Richard Woodard is a Richard Woodard best-avoided. But, the spirits giants of this world can bring him out of his stupor. And, all it would take is a little bit of spending....
One of the first signs of madness, I was always told, is talking to yourself. If that's the case, then Larry Nelson may have finally lost it. Before we cart him off, though, let's listen in on his and...
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