Radico Khaitan Q2 net up 49% at Rs 22 cr

Liquor firm Radico Khaitan  today said its net profit rose by 49.29 per cent to Rs 22.08 crore for the second quarter ended September 30, on the back of robust sales of its premium brands. The company had posted a net profit of Rs 14.79 crore during the corresponding period of previous fiscal. Net sales of the company rose to Rs 401.9 crore for the second quarter, as compared to Rs 353.7 crore during the same period of 2011-12 fiscal, Radico Khaitan said in a statement.

Commenting on the results Radico Khaitan MD Abhishek Khaitan said: "This growth was due to a combination of sales volume growth and a higher average price realisation driven by our premiumisation strategy". Khaitan added that the company has launched Verve, a super premium vodka, last month in the key liquor consuming states in North India including, Delhi, Chandigarh, Haryana, Uttar Pradesh, Rajasthan and Uttaranchal.

"The brand, with a price point of Rs 550 to Rs 650, optimally positions the company to capitalise on the fast growing vodka industry in India with a super premium product," Khaitan said. During the period under review, the company's premium brands grew by 19.6 per cent in volume terms as compared to the same period of 2011-12 fiscal, the company said.

Shares of the company today closed at Rs 117.95 apiece on the BSE, up 0.17 per cent from their previous close.

Source: www. moneycontrol.com

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