Sula Vineyards Q1 results: Profit rises 24.4% at ₹13.68 crore
The winemaker reported a 21% rise in revenue from operations to ₹117 crore
India's biggest winemaker Sula Vineyards reported a 24.4% rise in first quarter profit on Wednesday, helped by strong demand for its premium wines and increased footfall at its vineyards.
The Mumbai-based company, which became India's only listed winemaker in December last year, said its consolidated net profit stood at ₹13.68 crore ($1.65 million) compared with ₹11 crore a year earlier.
The owner of the Dindori and Rasa wine brands, reported a 21% rise in revenue from operations to ₹117 crore, with its Own Brands segment, comprising premium wine brands, accounting for about 89% of the topline.
Revenue from wine tourism also increased 11% to ₹11.4 crore due to a 70% jump in visitors at its winery located outside the city of Bengaluru.
Shares of Sula Vineyards settled 1.3% higher ahead of the results. It gained 24.78% in the June quarter, and has risen 35.7%% since its market debut in December.
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First Published:9 Aug 2023, 09:26 PM IST
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