Diageo India, operating under United Spirits Ltd and a subsidiary of the British liquor powerhouse Diageo, has reported a substantial 88% surge in standalone profit after tax (PAT) for the fourth quarter, reaching INR 384 crore compared to INR 204 crore in the same quarter of FY23. The net PAT margin for Q4FY24 is now at 14.4%, a significant increase from 8.2% previously.
Throughout FY24, United Spirits Ltd (USL) saw an NSV of INR 10,692 crore, marking a 3.06% year-on-year increase. The company credits this growth to a focus on premiumization and “choiceful consumption,” leading to increased brand loyalty.
In the fourth quarter, Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) amounted to INR 361 crore, up from the previous fiscal year’s Q4 of INR 338 crore, and INR 1,708 crore for the entire previous fiscal year.
Continue Exploring: United Spirits reports 63% YoY growth in Q3 net profit, reaches INR 350 Crore
United Spirits Ltd’s (USL) earnings per share (EPS) reached INR 5.28 in the March quarter, while the EPS for FY24 totaled INR 18.04.
Hina Nagarajan, CEO & Managing Director of Diageo India, remarked, “We have successfully concluded the fiscal year 2023-24, meeting our double-digit growth targets and achieving mid-teen margins despite a challenging external landscape. The year saw demand gradually stabilizing, influenced by sustained consumer inflation and the normalization of post-pandemic consumption patterns.”
Speaking on USL’s premiumization initiatives, she further stated, “We persist in innovating and refreshing to ensure future expansion. Our flagship brand is currently undergoing renovation and expansion within the new ‘House of McDowell’s’ framework to attract fresh consumers across various subsegments and formats.”
Godawan 100, Diageo’s craft whisky, was recently honored as the “Single Malt Whisky of the Year” at the London Spirits Competition. Nagarajan also highlighted the victory of the Royal Challengers Bengaluru Women’s Premier League (WPL) team in the 2nd edition of the WPL in March 2024. Notably, the team is owned by the company’s wholly-owned subsidiary, Royal Challengers Sports Private Ltd (RCSPL).
Continue Exploring: Godawan single malt whisky grows Its market presence, enters Punjab, Chandigarh, and Madhya Pradesh
