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Business News/ Companies / Company Results/  Radico Khaitan consolidated profit down 6% to 79 crore in Dec quarter
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Radico Khaitan consolidated profit down 6% to ₹79 crore in Dec quarter

Radico Khaitan sold total volume of 6.98 million cases in its Indian Made Foreign Liquor category during the quarter, up by 7.4% from the year-ago period

Radico Khaitan has brands such as Rampur Whisky, 8PM Whisky, Magic Moments Vodka, Contessa Rum & Old Admiral Brandy in its brand portfolio.Premium
Radico Khaitan has brands such as Rampur Whisky, 8PM Whisky, Magic Moments Vodka, Contessa Rum & Old Admiral Brandy in its brand portfolio.

NEW DELHI: Liquor manufacturer Radico Khaitan Ltd on Thursday reported a 5.88% decline in its consolidated net profit for the quarter ended December to 79.13 crore against 84.08 crore a year ago.

Its consolidated revenue from operations rose to 3,306.67 crore during the quarter under review as against 3,037.90 crore in the corresponding period a year ago.

The company sold total volume of 6.98 million cases in its Indian Made Foreign Liquor category during the quarter, up by 7.4% from the year-ago period. Its Prestige & Above brands’ volume grew to 2.36 million cases, up by 18.2%. The prestige category contributed about 33.8% to the total IMFL volume versus the 30.7% in the previous year.

The net sales of prestige brands accounted for Rs. 349.89 crore up by 21.5% in the same quarter in FY21. Prestige brands contributed to the total IMFL sales value of 55.6% versus 51.5% the year before.

Radico Khaitan has brands such as Rampur Whisky, 8PM Whisky, Magic Moments Vodka, Contessa Rum & Old Admiral Brandy in its brand portfolio. Abhishek Khaitan, the company’s managing director said during the third quarter, the company’s prestige brands saw good momentum and delivered a 18.2% volume growth.

He said, in December 2021, the company’s 8PM Premium Black whisky crossed a monthly run rate of 2 lakh cases and 8PM family crossed 11 lakh cases. “Despite the unprecedented inflationary pressure, overall we are very encouraged with our premium brand performance. In the near-term, the operating environment is expected to remain challenging. In this scenario, we will manage our business with agility, while continuing to grow our premium brand portfolio."

India is one of the fastest growing alcoholic beverages markets globally, with an estimated market size of $52.5 billion in 2020 and the market is expected to grow at a CAGR of 6.8% between 2020 and 2023. According to the Ministry of Food Processing Industries, production of alcoholic beverages in the country increased by about 23.8% during the period between 2015-16 and 2018-19.

The alcoholic beverages industry contributes to around 1.5 million jobs in India and generated around USD48.8 billion in sales revenue in 2019, added an ICRIER report titled Developing Principles for Regulation and Pricing of Alcohol Beverages Sector in India, from July 2021.

 

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ABOUT THE AUTHOR
Varuni Khosla
Varuni is an Assistant Editor at Mint. She writes engaging and informative stories on luxury brands, hospitality news, business of sports, business of advertising and marketing, gaming, tourism and travel, and the business of alcohol. She is skilled in communication, research, and analysis. Varuni is passionate about covering the latest trends and developments in the lifestyle and business sectors.
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Published: 03 Feb 2022, 06:03 PM IST
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