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United Spirits share price falls on 40% decline in Q4 net profit

BusinessToday.In     May 30, 2019

United Spirits share price fell in trade today after the firm reported a 40.19 per cent decline in standalone net profit at Rs 126.20 crore for the fourth quarter ended March on account of significantly lower other income. The company had posted a standalone net profit of Rs 211 crore in the year-ago quarter.

United Spirits stock fell 4% to 514 level compared to the previuos close of 535.35 on BSE. United Spirits share price has fallen 20.98% during the last one year and 15.72% since the beginning of this year.

The stock opened at 528 level in trade today.

This Tata Group firm has turned Rs 1 lakh investment to Rs 26 lakh in 10 years

The board has not recommended any dividend on the equity shares of the company for the year ended March 31, 2019.

Revenue from operations during Q4 stood at Rs 7,215.6 crore as against Rs 6,900.4 crore in the corresponding period of the previous fiscal, up 4.56 per cent.

Sales were primarily impacted by excise policy changes in a couple of key states, USL said.

Rakesh Jhunjhunwala turned Rs 1 lakh into Rs 7.5 lakh in 4 years with this stock

In the fourth quarter, the company logged other income of just Rs 11.9 crore whereas it stood at Rs 121 crore in the previous fiscal.

For the fiscal ended March 31, USL said its consolidated net profit was at Rs 683.60 crore as compared to Rs 651.9 crore in the previous year, a growth of 4.86 per cent.

Consolidated revenue from operations for 2018-19 was at Rs 28,872.5 crore as against Rs 26,555.9 crore in the previous year, it said.

Edited by Aseem Thapliyal

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