United Spirits Q1 profit rises 11%, buoyed by RCB business

United Spirits reported an 11% rise in net profit to Rs 463 crore for the June quarter.

Higher earnings from its Royal Challengers Bengaluru (RCB) sports business offset weaker profitability in core liquor operations.

Revenue from operations rose 5% to Rs 6,122 crore, with Prestige & Above portfolio sales up 10.1% to Rs 2,478 crore, accounting for nearly 92% of net sales.

The sports business contributed a post-tax profit of Rs 226 crore, up from Rs 160 crore a year earlier, and is classified as a discontinued operation due to the planned sale of Royal Challengers Sports for Rs 16,663 crore.

The Popular portfolio sales fell 17.5% to Rs 206 crore due to policy changes in Maharashtra and Karnataka, and the company booked an exceptional charge of Rs 81 crore for restructuring.