United Spirits shares fall over 4% post Q3 results

Shares of United Spirits declined over 4 per cent in the morning trade on Wednesday after the firm posted a decline in net profit for the December quarter. The stock fell 4.31 per cent to Rs 781.75 in early trade on the BSE.

On the NSE, it declined 4.35 per cent to Rs 781.15.

In a regulatory filing on Tuesday, Diageo-controlled liquor maker United Spirits said its consolidated net profit declined 27 per cent to Rs 214 crore in the third quarter that ended December 31, 2022.

The company reported a net profit of Rs 295 crore in the October-December period last fiscal year.

Total income declined to Rs 6,631 crore in the period under review as against Rs 8,917 crore in the year-ago quarter, the company said.

For the nine months ended December 31, 2022, the Bengaluru-based company reported a net profit of Rs 1,023 crore as compared with Rs 632 crore in the year-ago period.

Total income declined to Rs 22,079 crore as against Rs 23,306 crore in April-December 2021-22, it said.

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