Latest News | USL Q3 Net Down 4.3 Pc at Rs 335 Cr

New Delhi, Jan 23 (PTI) United Spirits Ltd on Thursday reported a 4.3 per cent decline in consolidated net profit at Rs 335 crore in the December quarter, impacted by higher expenses and severance costs related to a closed unit.

The company had posted a consolidated net profit of Rs 350 crore in the corresponding quarter last fiscal, United Spirits Ltd (USL) said in a regulatory filing.

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Consolidated revenue from operations in the quarter under review was Rs 7,732 crore against Rs 6,962 crore in the year-ago period, it added.

Total expenses during the quarter were higher at Rs 7,256 crore compared to Rs 6,555 crore a year ago.

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During the quarter ended December 31, 2024, the company has recognised a charge of Rs 65 crore under exceptional items, towards severance costs relating to a closed unit, USL said.

USL CEO & Managing Director Hina Nagarajan said, "Amidst a moderate but sequentially improving demand environment, we have delivered a quarter in line with our aspirations buoyed by the festive season and fast scale-up in the state of Andhra Pradesh."

On the outlook, she said, "Looking ahead, we remain cautiously optimistic in the short-term while remaining committed to the long-term potential of the India consumer story."

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)