United Spirits marketing spend up 62% YoY at Rs 84 cr in FY22 Q1
The company recorded a 57% increase in sales and a three-fold increase in EBITDA
United Spirits has reported "resilient performance" in a challenging quarter ended 30 June 2021 with a 57% increase in sales and a three-fold increase in EBITDA.
The company reported net sales of Rs 1,615 crore in the quarter. Gross profit for the quarter stood at Rs 720 crore. The reported EBITDA was Rs. 168 Crores, up 316% over the prior year. EBITDA margin @ 10.4% for the quarter was subdued on account of operating de-leverage. Profit after tax was Rs. 69 Crores, up 132% and PAT margin was 4.3%.
The company increased its marketing spend to Rs 84 crore this quarter up 62% from the previous year. "The second Covid-19 wave-induced localised lockdowns impacted the sequential recovery momentum seen over the prior quarters," said the company.
"We have delivered a resilient performance on the back of our operational agility and the intrinsic strength of our portfolio as we managed through the challenges of localized and asynchronized state lockdowns. The Company was back to full operations as we exited the quarter.
Looking forward, with the drop in COVID positivity rates and steady increase in the vaccination coverage, we expect the recovery momentum to accelerate. We remain focused on stimulating demand through our renovation, innovation, and other category growth initiatives. The embedded discipline during the first two waves of the pandemic has enabled the Company to prepare for short-term disruptions and “Emerge Stronger” from the crisis," said CEO Hina Nagarajan.
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