India's largest spirits company United Spirits Ltd has posted a 98 per cent increase in net profit to Rs 148 crore in the second quarter of the fiscal while revenues grew 32 per cent to Rs 1,791 crore.
In the quarter gone by, the company sold 28.7 million cases of liquor a growth of 8 per cent in the sales volume over last year. A press statement from the company pointed out that the spirits costs for the quarter were higher by 11 per cent.
Production at the recently acquired distilleries of Pioneer Distilleries in Maharashtra and of Sovereign Distilleries at Karnataka has been increasing, the statement said. USL brands, particularly at the upper end of the product portfolio, continue to grow both in volume and value terms.
The recently constituted Emerging Markets Division has already activated the opening up of new markets in African and Asian continents, the statement said.