United Spirits Q2 Profit Drops 8% To Rs 428 Crore Amidst Sports Business Loss

Times of India · stocks

Diageo-controlled United Spirits reported an 8% decline in net profit for the September quarter, falling to Rs 428 crore from Rs 464 crore a year ago. This decrease was largely attributed to a significant loss in its sports business, which incurred Rs 32 crore compared to Rs 3 crore previously. Total income also saw a slight dip of 2.7% to Rs 7,079 crore. Despite these challenges, the company continued to invest in brands and new launches, with net sales in its higher-priced portfolio showing growth.