Radico Khaitan Q1 net up 28.57 pc to Rs 20.7 crore

NEW DELHI: Liquor maker Radico Khaitan today said its net profit rose by 28.57 per cent to Rs 20.7 crore for the first quarter ended June 30, 2011, over the same period previous fiscal.

The company had posted a net profit of Rs 16.1 crore in the same period last financial year, Radico Khaitan said in a statement.

The company's net sales rose to Rs 375.9 crore for the first quarter ended June 30, 2011, as against Rs 326.1 crore in the same period previous fiscal.

Commenting on the results, Radico Khaitan CMD Lalit Khaitan said, "Our focus on brand building and premiumisation is demonstrated by strong volume growth in premium brands of over 22 per cent."

"We intend to continue to build consumer awareness for our premium brands through marketing campaigns and increased distribution. We expect our premium brand portfolio to contribute significantly in our net sales in the current year" Khaitan added.

Khaitan said its premium whisky brand 'After Dark', which was test marketed in 2010, is being rolled out nationwide during the quarter and is receiving a favourable response from all regions.

"The volumes of Radico's flagship brand 8PM continued to grow by 17.2 per cent in Q1 of fiscal 2012, compared to the prior year," the company said.

Shares of Radico Khaitan were trading at Rs 133.85 on the Bombay Stock Exchange in late afternoon trade, down 0.07 per cent from their previous close.