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United Spirits Shares Tumble Most In 14 Weeks As Q3 Profit Declines

Diageo-controlled liquor maker's consolidated net profit declined by 28.5% to Rs 214.2 crore in the third quarter ended December.

Rishabh Mishra

McDowells brand liquor manufactured by United Spirits. (Photo: Usha Kunji/BQ Prime)

Shares of United Spirits Ltd. fell the most in over 14 weeks since Oct. 11 on a decline in third-quarter profit.

The Diageo-controlled liquor maker's consolidated net profit declined 28.5% to Rs 214.2 crore in the third quarter ended Dec. 31, 2022.

Also Read: Stock Market Today: Sensex, Nifty Dragged By Heavy Sell-Off In Banking, Financials; FPIs Remain Net Sellers

United Spirits Q3 FY23 (Consolidated, YoY)

  • Revenues down 5.72% at Rs 2,778.7 crore

  • Ebitda down 28.32% at Rs 371.8 crore

  • Ebitda margin at 13.38% versus 17.6%

  • Net profit down 28.5% at Rs 214.2 crore

Also Read: Tata Motors, Bajaj Auto, Cipla, Dr Reddy's, Patanjali Foods Q3 Results Today — Earning Estimates

Shares of the company fell 4.71% to Rs 778.25 apiece as of 10 a.m., while the benchmark Nifty 50 declined 0.73%. The total traded volume so far in the day stood at 11.7 times its 30-day average.

Out of the 26 analysts tracking the company, 16 maintain a 'buy' rating, seven recommend a 'hold' and three suggest 'sell' , according to Bloomberg data. The 12-month consensus price target implies an upside of 20.8%.

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