Liquor maker Radico Khaitan Ltd on Thursday reported a 10.2 percent year-on-year (YoY) increase in net profit at Rs 68.3 crore for the first quarter that ended June 30, 2023.
In the corresponding quarter last year, Radico Khaitan posted a net profit of Rs 62 crore, the company said in a regulatory filing.
In the quarter, total revenue stood at Rs 953.9 crore during the period under review, up 26.4 percent against Rs 757.4 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA jumped 29.2 percent to Rs 119.5 crore in the first quarter of this fiscal over Rs 92.5 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 12.5 percent in the reporting quarter as compared to 12.2 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
During the quarter, "total IMFL (Indian-made foreign liquor) volume was 7.36 million cases, up 7.9 percent", said an earning statement from Radico Khaitan. Radico Khaitan's total expenses were up 26.66 percent to Rs 3,940.41 crore during the quarter.
The total revenue of Radico Khaitan, which owns brands like Jaisalmer, Magic Moments, Morpheus Brandy, and Rampur Indian Single Malt, was at Rs 4,024.43 crore, up 26.23 percent versus a year ago.
Radico Khaitan managing director Abhishek Khaitan said, "We have delivered another quarter of strong double-digit volume growth in prestige and above category, which has exceeded our earlier guided growth rate of 15-18 percent."
Overall, it has recorded significant improvement in sequential margins, which have been sustained on a year-on-year basis, he added. "This was aided by strong efforts on driving premium value growth, price increase received over the last four quarters, supported by easing inflation in certain raw materials," Khaitan added.
The results came after the close of the market hours. Shares of Radico Khaitan Ltd ended at Rs 1,445.85, up by Rs 12.60, or 0.88 percent on the BSE.
