{"id":105477,"date":"2023-07-21T12:30:00","date_gmt":"2023-07-21T07:00:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=105477"},"modified":"2023-07-21T12:26:06","modified_gmt":"2023-07-21T06:56:06","slug":"alcohol-stock-jumps-more-than-6-after-reporting-82-increase-in-net-profit-check-the-details","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/alcohol-stock-jumps-more-than-6-after-reporting-82-increase-in-net-profit-check-the-details\/","title":{"rendered":"Alcohol stock jumps more than 6% after reporting 82% increase in net profit; Check the details"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1747069779\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of a leading beverage alcohol company in India notched 6.87 percent gains on Friday\u2019s early trades to reach an intraday high of \u20b9 1042.00 apiece on the National Stock Exchange (NSE) after the company reported stellar results for the first quarter of the financial year 2023-24 (Q1FY24).&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1681671481\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>On a consolidated basis, <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/MCDOWELL-N\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">United Spirits<\/a><\/strong>\u2019 profit marched 82.57 percent higher at \u20b9 476.7 crores in Q1FY24 (April to June 2023) as compared to \u20b9 261.1 crores in the corresponding quarter of the previous year. However, its revenue from operations declined by 18.55 percent to \u20b9 5,830.10 crores in the latest quarter as compared to \u20b9 7,157.50 crores in the same quarter last year.\u00a0<\/p><p>Its net sales value came in at \u20b9 2668 crores and EBITDA at \u20b9 714 crores, up 28.6 percent and 129.4 percent respectively, based on prior year comparators.&nbsp;<\/p><p>\u201cWe have commenced fiscal 2024 with a robust first quarter performance. While inflationary pressures remain, our strategy to reshape the portfolio combined with revenue growth management and focus on everyday efficiency is driving sustainable growth across the Prestige &amp; Above segment,\u201d said Hina Nagarajan, CEO &amp; Managing Director, United Spirits.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-315131657\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>United Spirits is among India\u2019s leading alcoholic beverage companies and a subsidiary of global leader Diageo PLC. It manufactures, sells, and distributes premium brands such as Johnnie Walker, Black Dog, Black &amp; White, VAT 69, Antiquity, Signature, Royal Challenge, McDowell\u2019s No.1, Smirnoff and Captain Morgan.&nbsp;<\/p><p>With a market capitalization of \u20b9 70,920 crores, United Spirits is a large-cap company. It has an ideal return on equity of 20.75 percent and an ideal debt-to-equity ratio of 0.03. Its shares were trading at a price-to-earnings ratio (P\/E) of 60.85 which is higher than the industry P\/E of 28.59, indicating that the stock might be overvalued as compared to its peers.&nbsp;<\/p><p>The company\u2019s promoters hold a 56.68 percent stake in the company, followed by retail investors with 16.26 percent, foreign institutions with 15.92 percent, mutual funds with 10.07 percent and other cosmetic institutions with 1.07 percent.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2707299075\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of a leading beverage alcohol company in India notched 6.87 percent gains on Friday\u2019s early trades to reach an intraday high of \u20b9 1042.00 apiece on the National Stock Exchange (NSE) after the company reported stellar results for the first quarter of the financial year 2023-24 (Q1FY24).&nbsp; On a consolidated basis, United Spirits\u2019 profit [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":104156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[8397,8300,948,936,10136,10137,10135],"class_list":["post-105477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-alcohol-stock-2023","tag-alcohol-stock-to-buy-now","tag-stock-market","tag-stock-market-news","tag-united-spirits-latest-news","tag-united-spirits-q1-results-2023","tag-united-spirits-share-price"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Alcohol stock jumps more than 6% after reporting 82% increase in net profit; 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