Radico Khaitan Q1 net up 21% at Rs 31 cr

NEW DELHI: Liquor firm Radico Khaitan today posted 21.22 per cent increase in net profit at Rs 30.61 crore for its first quarter ended June 30, 2013 as its premium brands saw robust sales.

The company had posted net profit of Rs 25.25 crore for the April-June quarter of 2012-13 fiscal.

Net sales of the company in Q1, 2013-14 rose to Rs 467 crore, from Rs 421.5 crore in the same period of previous fiscal, Radico Khaitan said in a statement.

"The growth has been primarily driven by an 18.8 per cent year-on-year growth in the Prestige and above brands. Premium brands as a percentage of total IMFL volumes increased from 16.2 per cent in Q1 FY 2013 to 17.9 per cent in the current quarter," Radico Khaitan Managing Director Abhishek Khaitan said.

The company's premium product portfolio includes Magic Moments Vodka, Morpheus Brandy, After Dark Whisky, among others.

Khaitan added that the company also received a price hike in Bihar, Delhi, Odisha and other key liquor consuming states, during the quarter.

Shares of Radico Kahitan today closed at Rs 91.65 a piece on the BSE, down 1.77 per cent from their previous close.