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Wednesday, November 25, 2020

Radico Khaitan Q2 profit slips 7% at Rs 75 crore

Shares of Radico Khaitan settled 1.76 per cent higher at Rs 453.70 apiece on BSE.

By: PTI | New Delhi | October 28, 2020 5:44:08 pm
The company clocked a net profit of Rs 79.94 crore in the same quarter last fiscal, Radico Khaitan said in a regulatory filing. (Representative image)

Liquor maker Radico Khaitan on Wednesday reported 6.60 per cent decline in consolidated net profit at Rs 74.66 crore for September quarter of the current fiscal year.

The company clocked a net profit of Rs 79.94 crore in the same quarter last fiscal, Radico Khaitan said in a regulatory filing.

Revenue from operations in the quarter under review stood at Rs 2,740.32 crore as against Rs 2,520.05 crore in the year-ago period, it added.

Chairman and Managing Director Lalit Khaitan said after a difficult start to the financial year, the second quarter results demonstrated a sharp recovery in Radico Khaitan’s performance.

“However, the industry revival is dispersed with a few states still reeling under pressure due to a high tax regime, prolonged and local level lockdowns.

“Radico Khaitan continues to work on various fronts including new brands development, rationalisation of cost base and further strengthening our sales and distribution network. We are using technology more than ever before, across all our functions, to drive transformation in the work environment and support decision making,” he added.

Shares of Radico Khaitan settled 1.76 per cent higher at Rs 453.70 apiece on BSE.

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