Radico Khaitan posts two-fold jump in Q4 profit to Rs 74 cr

NEW DELHI: Liquor maker on Tuesday reported an over two-fold jump in consolidated net profit at Rs 73.53 crore for the fourth quarter ended March 2021, helped by strong volume growth.

The company had posted a consolidated net profit of Rs 32.67 crore in the January-March period a year ago, Radico Khaitan said in a BSE filing.

Its revenue from operations increased 30.42 per cent to Rs 2,881.19 crore as compared to Rs 2,209.11 crore in the corresponding quarter of the previous fiscal.

Indian-made foreign liquor (IMFL) sales volume was up 7.8 per cent during the quarter to 6.27 million cases.

“During Q4 FY2021, we experienced year-on-year growth in most of the top markets that we operate in. We reported a strong volume performance led by a 15 per cent growth in the Prestige & Above category during the quarter.

“Overall despite the pandemic, we have delivered strong earnings expansion,” Radico Khaitan Chairman and Managing Director Lalit Khaitan said.

Total expenses were at Rs 2,798.65 crore, up 30.25 per cent from Rs 2,148,67 crore earlier.

For the full fiscal 2020-21, Radico Khaitan’s net profit climbed 20.96 per cent to Rs 277.15 crore as against Rs 229.13 crore in the previous year.

Revenue from operations rose 10.08 per cent to Rs 10,367.36 crore from Rs 9,417.89 crore in FY 2019-20.

This is the first time the firm’s sales have crossed the Rs 10,000 crore mark, it added.

Regarding the business environment, Khaitan said unlike last year, there is no complete lockdown currently, which has allowed the company to continue its business operations.

“Our manufacturing plants are running at optimum capacity and dispatches are continuing partially, particularly to some of the larger liquor consuming states where sale of liquor is permitted,” he said.

However, he added, “We are cautious as we deal with this second wave but remain confident that we will continue to make consistent progress on our strategic growth priorities and create value for all our stakeholders.”

Radico Khaitan said its board has recommended a dividend of Rs 2.40 per equity share of face value Rs 2 each for the financial year ended March 31, 2021.

Shares of Radio Khaitan Ltd ended at Rs 616.70 on BSE, up 0.99 per cent from the previous close.