05 Nov , 2024 By : Debdeep Gupta
Tilaknagar Industries share price surged 17 percent on November 5 on strong Q2 results.
Indian-Made Foreign Liquor (IMFL) manufacturer Tilaknagar Industries Ltd on Monday reported a 57 percent rise in its consolidated net profit at Rs 58 crore crore in the September 2024 quarter. It had reported a net profit of Rs 37 crore during the July-September period of the preceding 2023-24 fiscal, the company said in an exchange filing.
Commenting on the performance, Amit Dahanukar, Chairman & Managing Director, said "From a Q2 business perspective, we have delivered our highest ever EBITDA at Rs 66 crore. Our margins expanded on the back of a superior brand mix as well as cost optimization initiatives. All this despite subdued volume growth on account of transitioning of RTM in our key state of Andhra Pradesh (“AP”) in Q2."
The total income increased to Rs 826.67 crore in the reporting period from Rs 750.66 crore a year ago. Tilaknagar Industries Limited (TI), is the maker of Mansion House Brandy, India’s largest and the world’s second-largest-selling brandy.
The strong quarterly earnings led to a sharp uptick in the shares of Tilaknagar Industries with the counter rising 16.61 percent to quote at Rs 339.70 per share on the NSE. The stock had opened a gap-up with a gain of 7.47 percent today.
Tilaknagar Industries is among India’s top alcoholic beverage industries, with a diverse array of brands across various categories such as brandy, flandy, whisky, gin, and rum.
In 2024 so far, the shares of the company have surged over 40 percent on the NSE.
0 Comment