India: United Spirits sees Q4 rise thanks to strong demand for premium brands

India's United Spirits reported a rise in fourth-quarter profit on May 20, helped by strong demand for its premium alcohol brands and resumption of sales in the southern state of Andhra Pradesh in September after a five-year gap, Reuters reported.

The Indian arm of spirits maker Diageo reported a standalone profit of 4.51 billion rupees ($52.72 million) for the quarter ended March 31, up 17% from a year ago.

The company said the net sales value of premium category, which includes Johnnie Walker whiskey and Tanqueray gin, rose 13.2% year-on-year, while overall net sales growth was 10.5%.

Analysts said that following a strong October to December period, demand for alcoholic beverages remained strong during the fourth quarter, led by the wedding season.

United Spirits has focused on more premium products in its portfolio in the past few quarters, which has shielded the company to an extent from India's inflation-led consumption slowdown.

Earlier this month, India's largest beer maker United Breweries reported a rise in fourth quarter profit helped by lower costs, while its volume rose 5% driven by strong growth in the premium segment.