New Delhi, Nov 2 (IANS): National spirits company Radico Khaitan Ltd reported a 5.5% growth in gross profit to Rs 325 crore for the second quarter of the 2021-12 financial year due to growth in IMFL sales.
The company sold 6.47 million cases of IMFL during the July-September quarter, a growth of 7.1% over the same period a year earlier.
The net operating income of the company also increased by 12.5% during the reporting period to 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 variants of Magic Moments Dazzle Vodka. strong feedback from consumers as well as trade channels,” said Chief Executive Officer Lalit Khaitan.
“We are making solid 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 value. long-term sustainability to all of our stakeholders in the future.”
The company has also taken steps to cut costs in order to emerge stronger financially. 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 decreased by Rs 79 crore since March 2021.