Radico Khaitan reports 5.5% growth in Q2 gross profit on improved sales

Domestic spirits company Radico Khaitan Ltd has reported a 5.5 per cent growth in its gross profit to Rs 325 crore for the second quarter period of financial year 2021-12 on account of growth in sales of IMFL.

The company sold 6.47 million cases of IMFL in the July-September quarter, a growth of 7.1 per cent over the same period of previous year.

The company' s net revenue from operations also grew 12.5 per cent in the period under review to Rs 708.83 crore.

"These are exciting times at Radico Khaitan as we have launched two of the most awaited super premium brands. During October 2021, we unveiled Royal Ranthambore Heritage Collection-Royal Crafted Whisky and two variants of Magic Moments Dazzle Vodka. Both these brands have received very strong feedback from consumers as well as trade channels," Chairman and Managing Director Lalit Khaitan said.

"We are making firm progress on our strategy of creating a stronger premium brand portfolio. I am very optimistic about the future and confident that we have an established platform and the right strategy that will deliver long term sustainable value to all our stakeholders in the future."

The company has also taken steps to bring down its costs to emerge stronger financially. Accordingly in Q2 it brought down its interest cost to Rs 3.06 crore. The company is also reducing its debt which has come down by Rs 79 crore since March 2021 - IANS