New Delhi: National spirits company Radico Khaitan Ltd reported 5.5% growth in gross profit to Rs 325 crore for the second quarter of fiscal year 2021-12 due to growth in IMFL sales.
The company sold 6.47 million cases of IMFL in the July-September quarter, up 7.1% from the same period a year earlier.
The company’s net operating income also increased by 12.5% during the period under review to reach Rs 708.83 crore.
“These are exciting times at Radico Khaitan as we launched two of the most anticipated super premium brands. In October 2021, we unveiled Royal Ranthambore Heritage Collection-Royal Crafted Whiskey and two variations of Magic Moments Dazzle Vodka. Both brands have received good feedback from consumers as well as business channels, ”said President and CEO Lalit Khaitan.
“We are making strong progress in our strategy of building a stronger premium brand portfolio. I am very optimistic about the future and confident that we have an established platform and the right strategy that will deliver long-term, sustainable value to all of our stakeholders going forward. “
The company has also taken steps to cut costs in order to emerge more financially sound. As a result, in the second quarter it reduced its interest charges to Rs 3.06 crore. The company is also reducing its debt, which has fallen by 79 crore rupees since March 2021.