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This Breweries Stock Plunges Over 4% Despite Profit Rising YoY; Debt Free Status

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The breweries and distilleries stock United Spirits in trade on January 27 has tumbled in line with the broader markets. The stock in trade today has been knocked down by 4.7% to day's low price of Rs. 833.25. The stock at around 12:27 pm traded with a loss of 4.47% at Rs. 835.75. The stock's previous day's closing has been at Rs. 874.95 per share.

 
This Breweries Stock Plunges Over 4% Despite Profit Rising YoY; Debt Free Status

On January 25, in its quarterly earnings for the December quarter the company's PAT surge YoY to Rs. 291 crore. This is against the PAT of Rs. 230 crore reported in the same quarter of the year ago period. The margin had come in at 10.1 percent for the period under review. Further, in the Press release the company's CEO said "We have delivered a strong quarter, continuing the growth momentum amidst rising inflation.

The broad-based growth in the Prestige & Above segment demonstrates the strength of our portfolio, and the continued agility and resilience of the team. We launched the second limited edition of Epitome Reserve Craft Whiskey, a Peated Indian Single Malt.

We continued to expand distribution of the renovated Black Dog Scotch, Signature Whiskey and our innovation offering of Royal Challenge American Pride Whiskey. We also launched 'In.thebar.com' this quarter, our digital platform to drive focused consumer engagement and celebrations.

Healthy operating cash flow has enabled us to reach debt free status as on Dec.31st 2021. CRISIL upgraded its rating on United Spirits Limited's long-term bank facilities to 'AAA / Stable' while reaffirming its 'A1+' rating on the short-term bank facilities.

GoodReturns.in

Story first published: Thursday, January 27, 2022, 13:12 [IST]
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