Radico Khaitan clocks 19.4% rise in Q2 net profit

Alcoholic beverages maker Radico Khaitan on Monday reported a 19.4 per cent increase in net profit for the July-September quarter of the current financial year on the back of strong demand for its high-end brands.

The company’s consolidated net profit rose to Rs 61.87 crore during the quarter from Rs 51.82 crore in the same quarter last year. Revenue increased 23.1 per cent to Rs 371.5 crore for the quarter.

Sales in the premium segment, which includes brands such as Jaisalmer gin and Magic Moments vodka, jumped 22 per cent to 2.8 million cases during the quarter.

However, the sales of its low-priced segment plunged 16.5 per cent to 3.2 million cases.

“We expect demand momentum to improve with the upcoming festive season,” Chairman and Managing Director Lalit Khaitan said in a statement.