Chennai, August 11 (SocialNews.XYZ) Liquor maker Radico Khaitan Ltd closed the first quarter of FY23 with a lower net profit of Rs 58.28 crore on higher revenue compared to the corresponding period of the previous year.
The Indian maker of Foreign Liquors Made in India (IMFL) reported operating income of Rs 3,188 crore and net profit of Rs 58.28 crore for the period ended June 30.
For the corresponding period last year, the company had earned an operating income of around Rs 2,884 crore and a net profit of Rs 59.82 crore.
During the reporting period, the company sold 6.82 million cases, an increase of 21.5% compared to the corresponding period of the previous year.
“While there are short-term inflation concerns, the recent slowdown in some commodities, a normal monsoon and government policy measures bode well for the industry,” Lalit said. Khaitan, president of Radico Khaitan, quoted in a press release. statement.
According to him, the focus is on strengthening the company’s premium brand portfolio.
With out-of-home consumption picking up, white spirit brands have seen strong traction, said Abhishek Khaitan, general manager of Radico Khaitan.
He said the company was expanding its gin distillation capacity and to ease inflationary pressure it had taken measures such as streamlining the portfolio and value engineering throughout the supply chain.