The company’s revenue surges 10 per cent to Rs 6,394 crore, marking significant growth year-on-year
United Spirits, controlled by Diageo, revealed a standalone net profit of Rs 384 crore for the fourth quarter ending March 2024, up from Rs 204 crore in the same period last year. The company’s revenue from operations saw a 10 per cent increase, rising to Rs 6,394 crore compared to Rs 5,783 crore in the corresponding quarter of the previous fiscal year.
In the March quarter, USL’s total expenses were Rs 6,132 crore, while its total income reached Rs 6,623 crore. For Q4 FY24, USL’s EBITDA increased by 7 per cent to Rs 361 crore and for the full fiscal year FY24, it rose by 31 per cent to Rs 1,708 crore. The EBITDA margin stood at 13.6 per cent in Q4 FY24 and 16 per cent for FY24. Net sales value for Q4 FY24 increased by 7 per cent to Rs 2,666 crore. USL, known for brands such as McDowell’s, Royal Challenge, Signature, Johnnie Walker and Black Dog, also revealed that its board has recommended a dividend of Rs 5 per share for the financial year ending March 31, 2024.
Commenting on the results, Hina Nagarajan, CEO & Managing Director, said, “We have ended fiscal year 2023-24 delivering our double-digit growth guidance and returned to mid teen margins amidst challenging external environment. The year witnessed sequentially moderating demand on the back of sustained consumer inflation and post-pandemic consumption normalisation.”
Nagarajan added, “Our most iconic trademark is being renovated and stretched upwards under the new “House of McDowell’s” umbrella that will see it reach new consumers in different sub-segments and formats.”
The London Spirits Competition recently awarded the title of ‘Single Malt Whisky of the Year’ to Godawan 100, a luxury whisky crafted in India. “This sets the stage for us to enter the new fiscal year with even more confidence in our strategy,” Nagarajan stated.
Further, on the win of RCB team in Women’s Premier League, the CEO & MD added, “We are immensely proud of the Royal Challengers Bengaluru Women’s Premier League (WPL) team, which is owned by our 100% subsidiary, Royal Challengers Sports Private Limited (RCSPL), winning the 2nd edition of the WPL in March 2024.”
