Radico Khaitan Ltd, a liquor manufacturer, has reported a 26.43% rise in consolidated net profit, reaching INR 53.91 crore for the quarter ending March 2024. According to regulatory filings, this marks a significant increase from the INR 42.64 crore consolidated net profit reported in the corresponding quarter a year ago.
The consolidated revenue from operations for the reviewed quarter amounted to INR 3,894.64 crore, surpassing the INR 3,375.36 crore recorded in the corresponding period of the previous year.
During the fourth quarter, the overall volume of Indian-made foreign liquor (IMFL) stood at 7.16 million cases, marking a slight decrease of 1.2 percent. Conversely, the volume of prestige and above brands reached 2.92 million cases, exhibiting a notable increase of 14.2 percent, according to the company’s report.
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Total expenses rose to INR 3,820.3 crore from INR 3,325.37 crore in the same period last fiscal year.
As per the filing, the consolidated net profit for the fiscal year ending on March 31, 2024, surged to INR 262.17 crore from INR 220.35 crore in the preceding fiscal year.
In the fiscal year 2024, the consolidated revenue from operations totaled INR 15,483.88 crore, marking an increase from INR 12,743.91 crore in the fiscal year 2023.
The total volume of Indian Made Foreign Liquor (IMFL) for the year was 28.73 million cases, representing an increase of 1.7 percent. Moreover, the volume of prestige and above brands reached 11.26 million cases, demonstrating a growth of 20.3 percent, as reported by the company.
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“For us, the fiscal year 2024 has been a year of consolidation. Despite a challenging socioeconomic climate, we achieved strong operational performance throughout the year,” according to Lalit Khaitan, chairman and managing director of Radico Khaitan.
Regarding the outlook, he commented, “With increasing affluence, low per-capita consumption levels, and a notable premiumization trend, we hold confidence in the mid-to-long-term prospects of the Indian alcobev sector.”
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