New Delhi:
Indian liquor major United Spirits' first quarter profit surged 43 per cent to Rs 62.9 crore but revenues slipped marginally by 0.5 per cent due to Supreme Court’s ban of highway liquor stores.
United Spirits Ltd (USL) on Monday said that its Q1 profits rose 43.per cent even as revenue fell 0.5 percent, largely because of the Supreme Court’s decision last year to ban alcohol sales near highways.
The impact of the December ban will have an effect in the company's results of the next two-quarters as well, albeit to a lesser extent, the liquor maker said.
The decline in revenue is also a result of operational changes brought about in the June quarter as the firm increasingly moves towards using a franchisee model to sell its mass or value brands—classified as the popular segment internally in a few states.
