USL Q4 net loss narrows to Rs 1,799 cr

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Bangalore | Published: May 28, 2015 1:06:30 AM

India’s largest liquor maker, United Spirits (USL), announced last fiscal’s results on Wednesday...

India’s largest liquor maker, United Spirits (USL), announced last fiscal’s results on Wednesday, posting a standalone net loss of Rs 1,799.28 crore for Q4 as it set aside a substantial amount to cover funds diverted to other companies. USL was able to narrow its net loss considerably from the same quarter last fiscal, when the figure stood at Rs 5,380.10 crore.

USL provisioned Rs 1,754.97 crore in the fourth quarter, including Rs 995 crore due to the company from recorded exceptional items. These included an annual amount of Rs 995 crore due to the company from United Breweries (Holdings) (UBHL), the holding entity of Vijay  Mallya’s UB Group.

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