The company controlled by UK-based spirits and beer maker Diageo Plc posted a net profit of ₹167.3 crore for the quarter through March. Net sales rose 11.6% from a year earlier to ₹2,224 crore, driven by continued momentum in demand at retail outlets, partly offset by contraction of its owned business in Andhra Pradesh and softer footfall in the on-trade channel such as bars and restaurants.
Net sales in its Prestige and Above segment — which has mid-segment and premium brands such as McDowell’s No 1, Royal Challenge, Johnnie Walker and Vat 69 — grew 25.8%, backed by strong demand for its Scotch portfolio, the company said.
Net sales in the Popular segment — mass-market brands such as Haywards, Bagpiper and White Mischief — fell 3.1%, hurt by a decline of 4.3% in priority states. West Bengal sales saw a steep decline due to high taxes imposed.
USL said it would not be immune to the volatile environment amid the second wave, but would remain focused on building the long-term health of its brands.
