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United Spirits Q2 profit at Rs 69.6 cr

Last Updated: Tuesday, October 27, 2009 - 14:38

Mumbai: United Spirits Ltd (USL) on Tuesday posted
a net profit of Rs 69.60 crore for the second quarter ended
September 30, while the same was at Rs 93.89 crore during the
year-ago period.

The figures of the September quarter of the current fiscal
are not comparable with the corresponding period of last year
due to merger of three entities with the company, USL said in
a statement to the Bombay Stock Exchange (BSE).
The latest figures are after giving effect to the schemes
of amalgamation of Shaw Wallace & Company Ltd (SWCL), Primo
Distributors Ltd and Zelinka with the company, while the year-
ago results were prior to the merger.

Total income of the spirits and wines manufacturer stood
at Rs 1,087.55 crore in second quarter of FY`10, while it was
at Rs 911.36 crore during the corresponding quarter last year.

For the half-year ended September 30, the company reported
a net profit of Rs 247.19 crore, whereas the same was at Rs
211.02 crore during the same period last year.

Shares of USL were trading at Rs 1,011.25, down 3.53 per
cent in the morning trade on the BSE.
"Sales of the company`s overseas subsidiaries like Whyte
& Mackay, Bouvet Ladubay and Liquidity, have registered good
growth in all international markets as also in Indian market,
where they have been launched through the USL network," it

The company recently raised funds up to Rs 1,615.60 crore
by issuing 1.76 crore equity shares to qualified institutional
buyers on a private placement basis.

The proceeds of the issue will be used primarily to cut
debt incurred upon the acquisition of Whyte and MackayGroup
Ltd, to repay other debt, to fund capital, expenditure and for
other corporate purposes, USL said.

Bureau Report

First Published: Tuesday, October 27, 2009 - 14:38
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