Shares of United Spirits Ltd. rose to hit record high on Wednesday after its profit jumped in the third quarter.
The company's net profit surged 63.5% year-on-year to Rs 350.2 crore in quarter ended December, according to an exchange filing.
United Spirits Q3 Results Key Highlights (Consolidated, YoY)
Revenue rose 5.3% to Rs 3,002.1 crore.
Ebitda up 30.8% at Rs 486.5 crore.
Margin at 16.2% vs 13.38%.
Net profit rose 63.5% to Rs 350.2 crore.
Shares of United Spirits rose 3.42% intraday, the highest level since its listing on Sept. 27, 2001. The stock pared gains to trade 0.55% higher at 10:43 a.m., compared to 1.00% decline in the NSE Nifty 50.
It has risen 36.29% in the past 12 months. Total traded volume so far in the day stood at 3.8 times its 30-day average. The relative strength index was at 57.25.
Of the 24 analysts tracking the company, 12 maintain a 'buy' rating, seven recommend a 'hold,' and five suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 0.9%.
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