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United Spirits shares surge 8.5% post Q4 earnings

LiveMint logoLiveMint 31-05-2017 PTI

New Delhi: Shares of United Spirits (USL) on Wednesday surged 8.5% even as the company reported a standalone net loss of Rs104.2 crore for the fourth quarter ended March.

The stock jumped 8.49% to settle at Rs 2,267.35 on BSE. Intra-day, it soared 11.20% to Rs2,324. At NSE, shares of the company rose sharply by 8.26% to end at Rs 2,265.35.

United Spirits’s (USL) market valuation also rose by Rs 2,579.89 crore to Rs 32,950.89 crore. On the volume front, 4.49 lakh shares of the company were traded on BSE and over 32 lakh shares changed hands at NSE during the day.

Liquor major United Spirits on Tuesday reported a standalone net loss of Rs104.2 crore for the fourth quarter ended March, mainly on account of higher expenses and impact of exceptional items.

The Diageo-controlled United Spirits had posted a net profit of Rs1.4 crore during the same period of previous fiscal, United Spirits said in a BSE filing.

Net sales during the quarter under review stood at Rs6,474.2 crore as against Rs5,930.9 crore in the year-ago period, up 9.16%.

Commenting on the results, United Spirits CEO Anand Kripalu said: “We have delivered a strong set of results with 4% net sales growth, despite a subdued economic environment due to demonetisation as well as the run up to the highway ban.”

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