United Spirits, India’s largest maker of alcoholic beverages (whisky and wine), on Monday reported a standalone net profit of Rs 929 crore for the second quarter ended September 2015 compared to a net loss of Rs 27 crore in the corresponding quarter last year. An exceptional income amounting to Rs 799 crore following the sales of its stake held in United Breweries during the quarter enabled the company to report profits, the company said.
Net sales of the company have gone up 5.6% to R2,122 crore during the quarter as against Rs 2,008 crore a year ago.
The operating profit for the second quarter have increased 40.2% to Rs 293 crore from Rs 209 crore a year ago.
Tight control over the expenditure helped the company to improve its profitability. Its expenses were up by just 1.7% to Rs 1,852 crore during the quarter.
United Breweries reports 11.6% rise in Q2 net profit
United Breweries (UBL), India’s largest beer maker, on Monday reported 11.6% rise in standalone net profit at Rs 48 crore for the second quarter ended September 30, 2015 compared to Rs 43 crore in the corresponding quarter of previous year. The company’s sales grew 6% to Rs 1,016 crore as against Rs 960 crore in the year ago quarter.
The operating profit for the second quarter went up 20% to Rs 90 crore from Rs 75 crore a year ago.
UBL volumes recorded a 4% growth in the South and a marginal growth of 1% in the West with volumes under pressures in the North and East, in an industry that was sluggish across the country barring a few states.