Associated Alcohols and Breweries posts 58 pc hike in profit at Rs 25 cr
Feb 15, 2021
Indore (Madhya Pradesh) [India], February 15 : Associated Alcohols and Breweries Ltd has reported 58 per cent hike in its profit after tax of Rs 25 crore for the quarter ended December.
In Q3 FY20, it had reported profit after tax of Rs 16 crore. Operational income went up by 11 per cent to Rs 161 crore in Q3 FY21 from Rs 145 crore in Q3 FY20.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 41 per cent to Rs 36 crore from Rs 26 crore in the same period.
The company said substantial reduction in raw material prices in Q3 FY21 and improvement in price realisation of Indian made Indian liquor (IMIL) and Indian made foreign liquor (IMFL) resulted in improvement in margins.
The plant reached 100 per cent capacity utilisation during the quarter and the company started sales of its IMFL products in Uttar Pradesh.
"The third quarter seasonally remains the best quarter which has aided the pick up in sales and normalcy has also been restored to pre-Covid-19 levels," it said in a statement.
In the nine-month period (March to December 2020), the profit after tax was 11 per cent up at Rs 43 crore from 39 crore in the year-ago period. But operation income declined by 19 per cent to Rs 325 crore from Rs 399 crore.
Associated Alcohols and Breweries has 32 bottling lines at a single-location integrated manufacturing facility with annual capacity of 12.5 million cases and six proprietary brands.
