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India: Diageo India reports increase in consolidated revenue in Q2FY25
Diageo India (United Spirits Ltd), a subsidiary of the British liquor giant Diageo, reported consolidated revenue from operations at ₹6,672 crore in Q2FY25, as opposed to ₹6,238 crore in Q1FY25 and ₹6,737 crore in Q2FY24, The Hindu BusinessLine reported on October 23.
Consolidated net sales value (NSV) increased to ₹2,843 crore this quarter, against ₹2,761 crore in the last quarter. However, it registered a marginal decline year on year (YoY) of 0.8 per cent versus the prior year’s corresponding quarter driven by the normalisation of higher-than-expected growth in the first quarter, a higher base last year due to festive inventory build-up, and an overall, relatively muted demand environment.
Consolidated net profit for the September ended quarter was ₹341 crore, down from ₹485 crore last quarter. Consolidated EBITDA witnessed a degrowth at ₹502 crore this quarter compared to ₹713 crore in Q1FY25. However, it saw a YoY growth of 7.4 per cent.
The total NSV witnessed a marginal decline of 0.8 per cent over the previous year, while the NSV of the prestige & above segment was broadly flat with 0.3 per cent YoY growth.
Hina Nagarajan, CEO & Managing Director, said, “It’s a muted quarter amidst a softer than expected demand environment. We remain buoyant entering the festive season on the back of structural tailwinds including the reopening of the business in the state of Andhra Pradesh after a near 5-year gap. This reinforces our faith in the overall health and long-term fundamentals of the spirits industry & business in India. Our key focus remains on executional excellence to deliver sustained profitable growth, while maintaining the long-term competitiveness of our portfolio.”
The company sold 15,414 cases this quarter, compared to 13,699 cases in the last quarter of the fiscal. However, there was a decline from Q2FY24’s 16,130 cases.
In H1FY25, consolidated net sales was ₹5,605 crore, up 1.3 per cent YoY. Consolidated EBITDA for the first half of the fiscal was ₹1,215 crore, a YoY growth of 2.9 per cent. Consolidated PAT was ₹826 crore. During the period, the company sold 29,113 cases.
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