India’s largest alcoholic beverages company United Spirits (USL) has reported 85.6% rise in its standalone net profit for the quarter ended September 30, 2017.
The company earned net profit of Rs 153.1 crore for the quarter under consideration, compared with Rs 82.5 crore in the corresponding quarter last fiscal.
The company’s income from operations also grew by 6.6% to Rs 6,414.6 crore, compared with Rs 6,017.3 crore in the quarter ended September 30, 2016.
The company also has created a provision of Rs 14.4 crore towards the losses borne by the company, owing to the destruction of its stock due to liquor ban in Bihar.
The Prestige & Above segment represents 48% of total volumes and 63% of total net sales, while McDowell’s No. 1 Whisky (excluding Platinum) grew volume 5% and net sales 14% in the second quarter and volume was flat and net sales grew 6% in the first half, the company said.
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