United Spirits Q4 Results: Profit jumps 27% on demand for premium liquor
Karnataka, one of India's highest-tax alcohol markets, said in March it will scrap government price controls and shift to strength-based excise taxation from April 2026, allowing companies to set prices while cutting tax slabs.
By Reuters | Updated:
India's United Spirits, which distributes Johnnie Walker and Antiquity whiskeys, posted about a 27% rise in fourth quarter profit on Friday, boosted by demand for its premium brands.
* Diageo's Indian unit posted a profit of 5.71 billion rupees ($59.63 million) for the quarter ended March 31, compared with 4.51 billion rupees the previous year
* In March, an industry body representing global brewers such as Heineken, Anheuser-Busch InBev and Carlsberg told Reuters that surging glass bottle prices and a doubling of paper carton rates could trigger price hikes and supply disruptions, as gas shortages linked to the Iran war persist
* Revenue grew 4.4% to 68.38 billion rupees, while expenses also climbed at about a similar rate of 4.1% for the quarter, from the year ago
* Net sales value in United Spirits' premium segment, which includes Black & White whiskey and Tanqueray gin, rose 5% year-on-year
* In March, the company sold its Indian Premier League franchise Royal Challengers Bengaluru for $1.78 billion to a consortium which it said on Thursday will sharpen focus on the core beverage alcohol business
* Karnataka, one of India's highest-tax alcohol markets, said in March it will scrap government price controls and shift to strength-based excise taxation from April 2026, allowing companies to set prices while cutting tax slabs.
* "We welcome the progressive policy in the state of Karnataka, which has the potential to provide a fillip to the premiumisation journey in the state," said CEO Praveen Someshwar ($1 = 95.7625 Indian rupees)
* Diageo's Indian unit posted a profit of 5.71 billion rupees ($59.63 million) for the quarter ended March 31, compared with 4.51 billion rupees the previous year
* In March, an industry body representing global brewers such as Heineken, Anheuser-Busch InBev and Carlsberg told Reuters that surging glass bottle prices and a doubling of paper carton rates could trigger price hikes and supply disruptions, as gas shortages linked to the Iran war persist
* Revenue grew 4.4% to 68.38 billion rupees, while expenses also climbed at about a similar rate of 4.1% for the quarter, from the year ago
* Net sales value in United Spirits' premium segment, which includes Black & White whiskey and Tanqueray gin, rose 5% year-on-year
* In March, the company sold its Indian Premier League franchise Royal Challengers Bengaluru for $1.78 billion to a consortium which it said on Thursday will sharpen focus on the core beverage alcohol business
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* Karnataka, one of India's highest-tax alcohol markets, said in March it will scrap government price controls and shift to strength-based excise taxation from April 2026, allowing companies to set prices while cutting tax slabs.
* "We welcome the progressive policy in the state of Karnataka, which has the potential to provide a fillip to the premiumisation journey in the state," said CEO Praveen Someshwar ($1 = 95.7625 Indian rupees)
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