United Spirits shares fall over 2 per cent as profit declines in Q4
NEW DELHI: Shares of United Spirits on Thursday fell over 2 per cent after the firm reported a decline of 57.82 per cent in its consolidated net profit for March 2020 quarter.
The stock closed at Rs 563.65, down 2.45 per cent, after dropping 3.54 per cent to Rs 557.30 during the day on the BSE.
On the NSE, it slumped 2.34 per cent to settle the day at Rs 564.65.
In terms of volume, 4.16 lakh shares were traded on the BSE and over 59 lakh on the NSE.
Diageo-controlled liquor maker United Spirits on Wednesday reported a decline of 57.82 per cent to Rs 49.3 crore in its consolidated net profit for the fourth quarter ended March 2020, mainly impacted by disruptions in the market and consumption slowdown on account of COVID-19.
The company had posted a net profit of Rs 116.9 crore in the January-March quarter a year ago, United Spirits said in a regulatory filing.
Its revenue from operations was down 11.86 per cent to Rs 6,419 crore during the quarter under review as against Rs 7,283.1 crore in the corresponding period of previous fiscal.