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Radico Khaitan's Q4 net profit down 20% at Rs 32.67 cr

Maharashtra,Business/Economy

Author : Indo Asian News Service

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Mumbai, May 28 (IANS) Spirit manufacturer Radico Khaitan on Thursday reported a 20.19 per cent fall in its consolidated net profit, at Rs 32.67 crore, for the January-March quarter of financial year 2019-20.

During the corresponding quarter of FY 2018-19, the company had reported a net profit of Rs 40.94 crore.

In a regulatory filing, the company reported a 11.57 per cent rise in its total income at Rs 2,211.29 crore during the period under review.

Commenting on the performance, Lalit Khaitan, Chairman and Managing Director said: "I am pleased to report that Radico Khaitan has closed the financial year FY2020 with a remarkable operational and financial performance, especially in the context of the current pandemic and its effect on the global economies."

"Despite the lock down during the later part of March 2020, we have delivered a robust double digit IMFL (Indian-made foreign liquor) volume growth. This is a reflection of our strong brand equity and consumer focused brand portfolio," he said.

Khaitan added that the management continues to make strategic and highly targeted investments in innovative marketing and products to gain market share.

"The country was under lockdown for the entire month of April 2020 and it certainly has impacted all sectors of the economy. We believe it is a temporary phase for our business and after the lockdown is over, we shall return to normalcy soon," he added.

--IANS

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