United Spirits Q1 net profit beats estimates, jumps 52% on higher revenue

Diageo-controlled liquor maker United Spirits Ltd on Wednesday (July 22) reported a 51.6% year-on-year increase in net profit to ₹391 crore for the first quarter, compared with ₹258 crore in the corresponding quarter last year. The company’s net profit was above the CNBC-TV18 poll estimate of ₹316 crore.

Revenue from operations rose 6% year-on-year to ₹2,703 crore from ₹2,549 crore a year ago. Revenue also came in above the CNBC-TV18 poll estimate of ₹2,662 crore.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 4.1% year-on-year to ₹432 crore from ₹415 crore in the year-ago period. EBITDA was slightly below the CNBC-TV18 poll estimate of ₹436 crore.

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The company’s EBITDA margin remained flat year-on-year at 16%. The margin was marginally below the CNBC-TV18 poll estimate of 16.5%.

Shares of United Spirits Ltd ended at ₹1,404.60, down by ₹13.35, or 0.96%, on the BSE.