- Sula Vineyards' Q1 net profit fell 45.3% to Rs 1.1 crore year-on-year
- Revenue grew 2.9% to Rs 112.9 crore compared to Rs 109.6 crore last year
- EBITDA declined 9.3% to Rs 16.6 crore from Rs 18.3 crore in the prior year
Sula Vineyards Ltd. reported a sharp decline in first-quarter profit as margin pressure offset modest revenue growth during the April-June quarter.
On a consolidated basis, net profit fell 45.3% year-on-year to Rs 1.06 crore from Rs 1.94 crore a year earlier, while revenue from operations rose 2.1% to Rs 120.79 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 9.3% to Rs 16.6 crore, while the EBITDA margin narrowed to 14.7% from 16.7% in the corresponding quarter last year.
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Total income increased to Rs 123.17 crore, supported by higher other income, even as total expenses rose to Rs 121.65 crore, reflecting increases across employee costs, inventory changes and finance expenses.
The company said it recognised a Rs 1.79 crore gain under other income during the quarter following the sale of its Mumbai office property for Rs 27 crore.
Sula noted that its business remains seasonal, with revenue and profitability not accruing evenly through the year, making quarterly performance not strictly comparable. The company also said it continues to operate as a single business segment comprising the manufacture, purchase and sale of wines and spirits.
The board approved the unaudited financial results for the quarter ended June 30 at its meeting held on Aug. 6.
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Sula Vineyards Q1 Result Highlights (YoY)
- Net Profit drops 45.3% at Rs 1.1 crore versus Rs 1.9 crore.
- Revenue up 2.9% at Rs 112.9 crore versus Rs 109.6 crore.
- EBITDA drops 9.3% at Rs 16.6 crore versus Rs 18.3 crore.
- EBITDA Margin down 200 Bps at 14.7% versus 16.7%.
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