International BusinessRadico Khaitan's Q1 sales up 23%
Indian made foreign liquor (IMFL) company Radico Khaitan, registered a consolidated net profit increase of 55.6 per cent for the quarter-ending June 30, to Rs 10.7 crore as compared with Rs 6.88 crore in the corresponding quarter a year earlier.
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The revenue in Q1 increased 22.7 per cent to Rs 274.4 crore, as compared with Rs 223.6 crore in the corresponding quarter of the previous financial year.
During the quarter, IMFL sales touched 3.9 million cases against 3.2 million cases last year, a volume growth of 20 per cent. Its main line brands, 8PM Whisky, Whytehall Whisky and Old Admiral Brandy, registered sale growth of 27 per cent, 88 per cent and 48 per cent, respectively. The recently launched Magic Moments vodka also clocked 47 per cent volume growth.
In May, the company launched Morpheus Brandy in the super-premium category in Andhra and over the coming quarter will do so in Tamil Nadu, Kerala, Karnataka and Pondicherry.
Commenting on the results, Abhishek Khaitan, managing director, Radico Khaitan, said, “The company is currently doing extensive consumer and market research for our new offerings and we are confident of coming up with premium brands at various price points.”