Radico Khaitan quarterly profits soar 73%
Indian spirits producer Radico Khaitan posted a 73% surge in quarterly profits last week, reflecting the rising demand for premium spirits among consumers in India.
Radico Khaitan revealed its latest results on Thursday. The firm’s consolidated profit rose to INR1.31 billion (US$14.95 million) for the quarter ended June 30 from INR753.8 million a year earlier.
Overall volume sales surged 47.2%, according to Reuters. Volume of the company’s ‘prestige & above’ segment rose 40.8%.
Radico Khaitan, which produces brands including Rampur single malt Indian whisky and Jaisalmer gin, has shifted focus to the premium end of its portfolio to keep up with changing consumer trends.
Indian drinkers, particularly middle class consumers with disposable income, continue to premiumise in both the on- and off-trade.
The shift has helped to shield the company’s bottom line from inflationary pressures on demand.
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In September 2024 Radico Khaitan launched the next two whiskies in the Rampur Jugalbandi series of eight cask strength Indian single malt whiskies.
The company continues to see success from its pivot towards its more prestige offerings, having posted similarly positive results in January.
Radico Khaitan has now achieved a new 52-week high in its stock price, highlighting its strong market performance despite a slight decline in the broader market.
The stock has shown impressive performance, outperforming its sector by 3.79%. Radico Khaitan is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum.
Other Indian alcohol firms are having similar success, with Peer United Breweries posting a 6% profit rise last week, driven by growth in its premium beer range.
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