United Spirits comes with a strong Q3

Diageo controlled United Spirits has reported an increase in its third-quarter profit, which came through increased demand for premium brands, in the financial year 2023-24. The company reported a 63 percent year-on-year (YoY) rise in net profit, which reached Rs. 350.2 crore for the October-December quarter.

In the quarter, the company's other income also increased to Rs 51.2 crore, up from Rs 21.3 crore during the corresponding quarter of the last fiscal. During the quarter, United Spirits reported a 10 percent increase in sales in the prestige and above (PA) category, which attained a figure of Rs 2,369 crore.

In the third quarter that ended on 31st December 2023, United Spirits’ stand-alone net sales value grew by 7.5 percent, with the prestige-and-above segment's stand-alone net sales increasing by 10 percent. However, net sales for the company’s ‘popular’ segment declined by 12.4 percent during the same quarter.