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Diageo-controlled liquor maker United Spirits Ltd reported a standalone net profit of Rs 384 crore for the fourth quarter ended March 2024, a significant increase from Rs 204 crore in the same quarter last year. Revenue from operations rose 10 percent to Rs 6,394 crore, up from Rs 5,783 crore in the corresponding quarter of the previous fiscal year.
USL’s total expenses for the March quarter were Rs 6,132 crore, while total income amounted to Rs 6,623 crore. The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 7 percent to Rs 361 crore for Q4FY24 and by 31 percent to Rs 1,708 crore for FY24. The EBITDA margin stood at 13.6 percent for Q4FY24 and 16 percent for FY24. Net sales value for Q4FY24 was up 7 percent, reaching Rs 2,666 crore.
The board recommended a dividend of Rs 5 per share for the financial year ending March 31, 2024. USL, known for brands like McDowell’s, Royal Challenge, Signature, Johnnie Walker, and Black Dog, continues to show robust performance.
CEO & Managing Director Hina Nagarajan commented, “We ended fiscal year 2023-24 achieving our double-digit growth guidance and returning to mid-teen margins despite a challenging external environment. We saw sequentially moderating demand due to sustained consumer inflation and post-pandemic consumption normalization.”
Nagarajan also highlighted the renovation and expansion of their iconic trademark under the new “House of McDowell’s” umbrella, targeting new consumer segments. Additionally, Godawan 100 was recently awarded “Single Malt Whisky of the Year” at the London Spirits Competition, a significant accolade in the global beverage alcohol industry.
Further, Nagarajan expressed pride in the Royal Challengers Bengaluru Women’s Premier League (WPL) team, owned by USL’s subsidiary Royal Challengers Sports Private Limited (RCSPL), for winning the second edition of the WPL in March 2024.
These results and strategic moves position USL favorably in the business and stock market sectors as they enter the new fiscal year with strengthened confidence in their strategy.
