Tilaknagar Industries Q3 Profit Down 42% to Rs 43.8 cr

New Delhi, Feb 13 (PTI) Indian-Made Foreign Liquor (IMFL) manufacturer Tilaknagar Industries Ltd has reported a 42.32 per cent decline in its consolidated net profit to Rs 43.76 crore for the third quarter ended December 2023, on account of gains in exceptional items last quarter.

The company had reported a net profit of Rs 75.88 crore in the October-December period a year ago, according to a regulatory filing from Tilaknagar Industries Ltd (TIL).

However, its revenue from operations surged 18 per cent to Rs 797.54 crore during the period under review. It was Rs 675.46 crore in the year-ago period.

TIL's profit before exceptional items and tax in the December quarter was up 78 per cent at Rs 43.76 crore against Rs 24.55 crore.

It had a gain of Rs 51.32 crore as exceptional item in Q3 of FY23.

The total expenses in the December quarter rose 16.9 per cent to Rs 762.20 crore.

Its total income grew 19.11 per cent to Rs 805.97 crore in the December quarter of FY24.

In the quarter ended December 2023, Tilaknagar Industries' sales volumes increased to 29.5 lakh cases against 26 lakh cases in the same period last year.

The company owns brands like Mansion House Brandy, Courrier Napoleon Brandy, Mansion House Gold Whisky and Blue Lagoon Gin.

"In Q3 FY24, our company has achieved a year-on-year volume growth of 13.1 per cent. In the nine-month period ended December 2023, Tilaknagar Industries volumes grew 22.2 per cent, year-on-year, in comparison to the overall IMFL industry growth of 2-3 per cent for the same period," said its Chairman and Managing Director Amit Dahanukar.

Shares of Tilaknagar Industries Ltd on Tuesday settled at Rs 233.90 apiece on BSE, down 4.26 per cent.