Diageo India-controlled leading alcohol maker United Spirits Ltd. has reported consolidated net sales at ₹3,433 crore for the October-December 2024 quarter, up 14.4% year-on-year, broadly in line with growth in the standalone business. Consolidated EBITDA came in at ₹568 crore, a growth of 16.9% year-on-year, while Q3 FY25 profit after tax was at ₹335 crore.

On a standalone basis, the company that sells brands like Johnnie Walker, Baileys, and Godawan recorded net sales at ₹3,432 crore, up 14.8% year-on-year, with Prestige & Above segment growing 16.1%, while its profit stood at ₹473 crore, with a profit margin of 13.8%. The EBITDA margin was recorded at 17.1%, an expansion of 71 bps versus last year.

The Bengaluru-based company, in a statement, says the growth was driven by resilient consumer demand in peak festive season and a fast scale-up in Andhra Pradesh. The gross margin for the said quarter was 44.7%, up 131 bps versus last year on the back of sustained revenue growth management interventions and productivity flow-through. The A&P re-investment rate was 11% of net sales, reflecting the seasonality of the peak consumption quarter and investment behind the brands and innovations.

Hina Nagarajan, CEO & Managing Director, says: “Amidst a moderate but sequentially improving demand environment, we have delivered a quarter in line with our aspirations buoyed by the festive season and fast scale-up in the state of Andhra Pradesh. Looking ahead, we remain cautiously optimistic in the short-term while remaining committed to the long-term potential of the India consumer story.”

United Spirits last week announced the appointment of Praveen Someshwar as CEO-Designate as Nagarajan transitions into another position on Diageo’s Global Executive Committee after a tenure of four years. Someshwar will join the company on March 1, 2025, as the CEO-designate. He will take over from Nagarajan and join the Diageo Executive Committee from April 1, 2025.

Meanwhile, on M9 FY25 performance, United Spirits says its consolidated net sales stood at ₹9,038 crore, up 5.9% over the prior year, while profit stood at ₹1,107 crore, with a net profit margin of 12.8%. This is in line with the growth of the standalone business partly offset by the early start to IPL 2024. The M9 FY25 consolidated EBITDA at ₹1,783 crore, a growth of 7.0% over the prior year. EBITDA at ₹1,553 crore was an increase of 15.3% over the prior year comparator, while EBITDA margin was 18%, up 122 bps versus last year. This was driven by gross margin expansion and productivity across the value chain.

United Spirits operator Diageo India is among India’s leading beverage alcohol (alcobev) companies with a portfolio of premium brands. The share of United Spirits closed 2.87% up at ₹1,500.05 on the BSE today.

United Spirits Share

United Spirits Q3 sales rise 14.4% to ₹3,433 cr, profit hits ₹335 cr