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.
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
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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