United Spirits Q2 Profit Rises Marginally to Rs 341 Cr

New Delhi, Oct 23 (PTI) Alcoholic beverages maker United Spirits Ltd on Wednesday reported a marginal increase in consolidated net profit at Rs 341 crore in the second quarter ended September 30, 2024 impacted by a softer-than-expected demand environment.

The company had posted a consolidated net profit of Rs 339 crore in the same quarter of the last fiscal, United Spirits Ltd said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at Rs 6,672 crore, as against Rs 6,737 crore in the year-ago period, the company said.

Total expenses were lower at Rs 6,264 crore in the July-September quarter, as compared to Rs 6,362 crore in the second quarter of the previous fiscal, it added.

"It is a muted quarter amidst a softer-than-expected demand environment," United Spirits CEO & Managing Director Hina Nagarajan said.

She, however, said the company remains buoyant entering the festive season on the back of structural tailwinds including the reopening of the business in the state of Andhra Pradesh after a gap of nearly five-years.

"This reinforces our faith in the overall health and long-term fundamentals of the spirits industry and business in India. Our key focus remains on executional excellence to deliver sustained profitable growth, while maintaining the long-term competitiveness of our portfolio," Nagarajan said.