INDIA: United Spirits Q4 profits down, sales rise
United Spirits has reported a 14% dip in net profits for the final quarter of its fiscal full-year, but net sales rose by 21% for the period.
Net profits slipped to INR556m (US$11m) for the three months to the end of March, down from INR651m during the same period last year, United Spirits said in a fourth quarter results statement yesterday (27 April).
Net sales increased by 21% to INR9.23bn for the quarter, said the group, which controls more than two thirds of India's spirits market and is part of Indian billionaire Vijay Mallya's UB Group.
United Spirits president Vikay Rekhi told just-drinks at the World Whiskies Conference in London last week that the group has "seen no effects" from the global economic downturn.
Earlier this month, United Spirits reported that case sales for its full fiscal year to the end of March rose by almost 20% to more than 88m. Rekhi told just-drinks that the firm expects more strong volume sales growth over the next couple of years.
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