Liquor manufacturer Radico Khaitan, on Monday, approached the Competition Commission of India (CCI) complaining about the conduct of the major liquor giants.
The company has alleged cartelisation by large liquor companies to keep the domestic brands off shelves in Andhra Pradesh.
As per the information, CCI has taken cognisance of the complaint and is likely to probe the issue.
Earlier in February this year, Radico Khaitan reported a 20 percent drop in net profit in Q3 results compared to the year-ago period. Margins also dropped to 12.2 percent in the quarter under review from 15.7 percent in the same quarter a year ago.
However, revenue increased by 5 percent to Rs 792 crore while operating profit or EBITDA saw a drop of 19 percent year-on-year (YoY). Liquor company's total volume growth was flat at 6.99 million cases as compared to 6.98 million cases in the year-ago period.
(Edited by : Sangam Singh)
First Published: Apr 24, 2023 4:03 PM IST
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