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Home >Companies >Company Results >United Spirits back in black in Q1, posts net profit at 69.1 cr

Diageo-controlled liquor maker United Spirits Ltd on Friday swung back in profit as the firm posted a standalone net profit of 69.1 crore year-on-year (YoY) in the quarter ended 30 June, 2021. It has posted a net loss of 251 crore in the year-ago period.

The total income of the company for the June quarter was also up almost 59% to 6,073 crore as against 3,829 crore in the year-ago period.

United Spirits' EBITDA margin came in at 10.4%. EBITDA was 168 crore, up 316% over prior year.

Ms Hina Nagarajan, CEO, commenting on the quarterly results said, "In the midst of the severe Covid second wave that swept the country during the quarter, our top-most priority was the safety of our employees and associates while supporting the eco-system of customers, partners and communities."

She also added, "The company and its parent company, Diageo plc, committed 10 crore and Rs. 35 crore, respectively in this quarter to support India’s long term public healthcare infrastructure. The Company provided oxygen concentrators and other medical supplies and is in the process of creating mini hospitals in critical districts."

Speaking on the impact of the pandemic on the quarterly results, she said, "The Company was back to full operations as we exited the quarter. Looking forward, with the drop in COVID positivity rates and steady increase in the vaccination coverage, we expect the recovery momentum to accelerate. We remain focused on stimulating demand through our renovation, innovation, and other category growth initiatives. "

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