United Spirits Q1 profit rises 1.7% to ₹485 Crore

24 Jul 2024 , 08:49 AM

United Spirits Ltd (USL) reported a 1.7% increase in consolidated net profit for the June quarter, reaching ₹485 Crore, compared to ₹477 Crore in the same period last year.

Consolidated revenue from operations for the first quarter of the current fiscal year was ₹6,238 Crore, up from ₹5,808 Crore in the corresponding quarter of the previous fiscal year.

Total expenses for the quarter were ₹5,619 Crore, an increase from ₹5,173 Crore in the same period of the previous fiscal year.

Hina Nagarajan, CEO & Managing Director of USL, stated that the company has begun FY25 with a steady performance in the first quarter. She highlighted that renovation and innovation initiatives are being progressively rolled out with positive feedback.

Nagarajan also noted the company’s focus on enhancing long-term competitiveness and the goal to sustain performance in a soft demand environment while leveraging opportunities to create long-term value for stakeholders.

United Spirits Limited is an Indian alcoholic beverages company and the world’s second-largest spirits company by volume. It is a subsidiary of Diageo and is headquartered at UB Tower in Bangalore, Karnataka. The company exports its products to over 37 countries.

USL originated as McDowell and Company, founded in 1826 by Angus McDowell in India. It initially operated as a trading company and established a warehouse near Fort St. George in Madras (now Chennai).