Sula Vineyards Q1 profit jumps 24.4% YoY to Rs 13.7 cr on good top-line; stock up 2%

Sula Vineyards stock has given a return of 22.79 percent over the last six months
10-08-2023
Bigul

Q1FY24 Quarterly Result Announced for Sula Vineyards Ltd.

Breweries & Distilleries company Sula Vineyards announced Q1FY24 results: Revenue of Rs 118.1 crore in Q1FY24 compared to Rs 97.2 crore in Q1FY23, up 21.6% YoY EBITDA Rs 31.9 crore in Q1FY24 compared to Rs 26.1 crore in Q1FY23, up 22.2% YoY PAT of Rs 13.7 crore in Q1FY24 comapred to Rs 11.0 crore in Q1FY23, up 24.4% YoY Commenting on the performance, CEO Rajeev Samant said, “I’m pleased to announce FY24 has kicked off on a great note with the company posting record Q1 revenue and profits. Our focus on premiumisation has paid off handsomely with our Elite and Premium wines clocking solid 35%+ growth this quarter. Our wine tourism has also shown double-digit growth, and I am particularly pleased with the impressive rise in the number of tastings that our team has conducted at the winery and around the country. The significant leap in tastings bodes very well for the future. We now have over 100 keys at our iconic Nashik resorts, a big jump from 67 keys in March 2023. This 50%+ rise in the number of rooms will drive further growth in our Wine Tourism business in the coming years. It’s a great start to the year and the future shines bright for premium Indian wine led by the Sula sun!” Result PDF
09-08-2023
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