United Spirits Ltd (USL), India's largest liquor maker, has reported a 69% increase in net profit to Rs 258.7 crore for the quarter ended September 2018 on the back of robust sales.
In the July-September quarter of 2017, the Diageo-controlled firm had posted a net profit of Rs 153.1 crore.
USL said, "The company reported net sales increased 14 per cent delivered through the continued strong performance of the Prestige and Above segment, an improved performance in the popular segment as well as benefitting from lapping the impact of the highway ban in the same period last year."
Anand Kripalu, CEO of USL, stated, "We have delivered robust gross margin improvement both in the quarter as well as the first half, driven mainly by savings from our productivity programme which more than offset the adverse impact of inflation."
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