United Spirits Profit Jumps 27 Percent on Premium Demand
Diageo's Indian unit reported a quarterly profit of 5.71 billion rupees as demand for high-end labels like Johnnie Walker drove growth. The company recently sold its cricket franchise to focus on its core beverage business while benefiting from new tax reforms in Karnataka.
UNITED SPIRITS LTD grew its fourth-quarter profit 27% to 5.71 billion rupees ($59.63 million) as demand for premium labels surged in India. The result compares to 4.51 billion rupees in the prior year. Rising affluent consumption is offsetting supply chain pressures for the DIAGEO PLC subsidiary.
### Premium Brands Drive Revenue Growth Net sales value for the premium segment, including Black & White whiskey and Tanqueray gin, rose 5% year-on-year. This growth helped push total revenue up 4.4% to 68.38 billion rupees for the quarter ended March 31. Expenses climbed 4.1% during the same period, tracking closely with the revenue increase.
