Radico Khaitan's Q1 net profit up 36%

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SME Times News Bureau | 29 Jul, 2021
Spirits maker Radico Khaitan has reported a 35.7 per cent rise in its standalone net profit for the April-June quarter at Rs 59.82 crore.

During the same period of FY21, the company has reported a net profit of Rs 44.07 crore.

Lalit Khaitan, Chairman and Managing Director said: "After closing FY2021 on a positive note, it is heartening to report a robust performance in Q1 FY2022. The disruptive second wave of the pandemic impacted businesses from the second half of April."

"However, we noted rebound in volumes by the second fortnight of June 2021. Teams across different divisions came together with resilience and strength to ensure seamless operations and continued dispatches. This has enabled us to outperform the industry yet another quarter," he said.

Abhishek Khaitan, Managing Director said noted that despite state-level lockdowns and supply chain challenges posed by Covid-19 in Q1 FY2022, the company delivered a strong all-round performance.

"As restrictions are lifted and normalcy resumes, month-on-month volumes indicate a positive trend and we are confident of an improved industry performance, led by Prestige & Above segment, in the coming quarters. I am pleased to report that after a solid performance last year, Radico Khaitan became the largest IMFL exporter out of India during Q1 FY2022," he added.