United Spirits Ltd.

United Spirits has reported results for its third quarter ended December 31, 2011.

The company has posted a 63.79% fall in net profit of Rs 47.06 crore for the quarter ended December 31, 2011 as compared to Rs 129.96 crore for the same quarter in the previous year. Total income has decreased marginally by 1.83% from Rs 1,994.32 crore for Q3FY11 to Rs 1958.51 crore in the quarter under review.

The company’s net profit was dragged down by a cost increase in raw materials and higher duties in certain states. Prices of key raw material ENA was 15% higher in the quarter because of sanction given to certain states to export spirits, higher ethanol supplies to oil marketing companies at profitable prices to distillers and supply disruptions in states such as UP and Karnataka, the company said in a statement.

The figures for the quarter ended December 31, 2010 were after giving effect to the merger of Balaji Distilleries (post transfer of the brewery division undertaking to its wholly owned subsidiary CBPL) (Balaji) includes nine months results of Balaji and hence, are not comparable with current quarter ended December 31, 2011.

United Spirits is the largest spirits company in India and a flagship entity of $2 billion UB group. It manufactures wide range of whisky, vodka, rum and other spirits.