Financial Results
Tilaknagar Industries returns to black net sales up 140 per cent in June quarter
Mumbai/IBNS: Leading alcoholic beverage manufacturer, Tilaknagar Industries Limited, reported a 140 per cent increase in net sales to Rs 135.30 crore in the quarter ended June 2021.
The results for the year-ago period was Rs 56.38 crore.
The company said that despite a prolonged COVID-induced lockdown in key markets like Kerala and Puducherry, the company registered a strong jump in sales in the quarter ended June 2021.
Tilaknagar Industries, the maker of Mansion House Brandy, reported a modest consolidated net profit of 0.37 crore in the April-June quarter as against net loss of Rs 22.80 crore in the corresponding period of the previous financial year.
The company’s revenues also jumped 75 per cent at Rs 324.34 crore in the quarter ended June 2021 as against 185.73 crore during the same period last year.
Chairman and Managing Director, Amit Dahanukar said, "Led by strong growth and a sharp decline in finance costs, the company has turned a profit after a series of quarters. On a sequential basis, the company’s revenues have also been steady despite challenges due to the on-going pandemic.”
The company said that through successful implementation of strategic debt-restructuring that included one-time settlements (OTS), Tilaknagar Industries has lowered its finance costs significantly.
The company’s finance cost for the quarter ended June 2021 declined 13 per cent to Rs 15.01 crore as against Rs 17.24 crore for the quarter ended June 2020.
At present, Edelweiss Asset Reconstruction Company (EARC) remains the company’s sole and only lender.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
