Swiggy Reports ₹625.5 Cr Net Loss in Q2 Despite Revenue Growth
United Spirits Q3 Results FY2023, Net Profit at Rs. 110.5 crores
Last Updated: 25th January 2023 - 03:55 pm
On 24th January 2023, United Spirits announced its results for the third quarter of FY2023.
Key Highlights:
- Reported net sales value (NSV) at Rs. 2,781 Crores
- EBITDA at Rs. 368 Crores, with reported EBITDA margin at 13.2% is down 332bps, primarily driven by inflation-led gross margin contraction partly off-set by targeted A&P calibration.
- Exceptional charge of Rs. 151 Crores. is primarily on account of the supply agility program
- Interest costs of Rs. 24 Crores are on account of the customary non-debt related items and partially related to the debt of the merged entity.
- Profit after tax was Rs. 110.5 Crores with a net profit margin of 4.0% on account of the exceptional charge in the quarter
Business Highlights:
- Rebased Net Sales volume increased by 9.7% & underlying Net Sales Volume grew 11.5% (excluding the one-off Bulk Scotch sale impact from the prior year comparator) reflecting another good quarter driven by off-trade momentum & continued recovery of the On-trade
- Prestige & Above segment net sales grew 11.7% with strong double-digit growth in our scotch portfolio.
- Rebased net sales for the popular segment grew 2.3%.
- Gross margin at 40.6%, down 438bps versus last year, driven by input cost inflation both for Glass & ENA partly offset by superior mix and productivity.
- A&P's re-investment rate was 10.0% of sales.
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