United Spirits Shares Hit Life High After Q3 Profit Jumps
The company's net profit surged 63.5% year-on-year to Rs 350.2 crore in quarter ended December, according to an exchange filing.
Shares of United Spirits Ltd. rose to hit record high on Wednesday after its profit jumped in the third quarter.
The company's net profit surged 63.5% year-on-year to Rs 350.2 crore in quarter ended December, according to an exchange filing.
United Spirits Q3 Results Key Highlights (Consolidated, YoY)
Revenue rose 5.3% to Rs 3,002.1 crore.
Ebitda up 30.8% at Rs 486.5 crore.
Margin at 16.2% vs 13.38%.
Net profit rose 63.5% to Rs 350.2 crore.
Shares of United Spirits rose 3.42% intraday, the highest level since its listing on Sept. 27, 2001. The stock pared gains to trade 0.55% higher at 10:43 a.m., compared to 1.00% decline in the NSE Nifty 50.
It has risen 36.29% in the past 12 months. Total traded volume so far in the day stood at 3.8 times its 30-day average. The relative strength index was at 57.25.
Of the 24 analysts tracking the company, 12 maintain a 'buy' rating, seven recommend a 'hold,' and five suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 0.9%.
