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Liquor major Radico Khaitan has posted a 25 per cent increase in net income to ₹18.6 crore on account of higher sales of its premium range of brands.
The net sales, however, declined 6.6 per cent to ₹432.5 crore during the second quarter for the same period last year due to defocused sale of low margin category brands in Tamil Nadu.
“Our Q2 FY2016 top-line performance is a reflection of the current industry trend. However, our Prestige & Above brands continued their robust performance with 8.5 per cent year-on-year volume growth. Despite a decline in revenues, we reported operational EBITDA growth of over 13 per cent with a 216 basis points margin improvement,” Managing Director Abhishek Khaitan said in a statement.
The liquor major was able to reduce net debt by ₹44.2 crore during the first half of the year.
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