Profit before tax stood at Rs 18.08 crore in September 2024 quarter, down 41.60% from Rs 30.96 crore posted in Q2 FY24.

The company’s EBITDA fell 23.8% to Rs 34.4 crore in Q2 FY25 as compared to Rs 45.1 crore recorded in Q2 FY24. EBITDA margin reduced to 24.2% in Q2 FY25 as against 31.4% reported in the quarter ended 30 September 2023.

The company's own brands sales increased marginally to Rs 127.2 crore in Q2 FY25 as compared to Rs 126.8 crore reported in Q2 FY24,

In the September quarter, wine tourism revenue rose by 1% to Rs 12.2 crore as compared to Rs 12.1 crore reported in the second quarter of FY24.

The Elite and Premium brands led a 7% YoY growth, driven by strong double-digit growth in its iconic brands – The Source, RASA, and Dindori.

On half year basis, the company’s consolidated net profit fell 20.85% to Rs 29.11 crore in H1 FY25 as compared to Rs 36.78 crore recorded in H1 FY24. However, revenue from operations increased 3.94% YoY to Rs 269.65 crore in H1 FY25.

Rajeev Samant, CEO of Sula said, “We are pleased to report our 10th consecutive quarter of growth in our Own Brands business. However, Q2 FY25 was a subdued quarter, due to slowdown in consumer discretionary demand, particularly in urban areas where 90% of our sales are concentrated, and temporary disruptions in key markets like Karnataka and Delhi.

It is encouraging to see wine culture flourishing beyond our core markets, with strong double-digit growth in states like Telangana, Himachal Pradesh, Madhya Pradesh, Uttarakhand, and West Bengal, affirming our commitment to building a truly pan-India brand.

Looking ahead, while mindful of near-term challenges, we remain optimistic for the festive season on the back of structural tailwinds including the reopening of Andhra Pradesh after a hiatus of five years, introduction of 4 new labels in the CSD market and the return of SulaFest at our Nashik vineyards. We are confident the long-term Indian wine story remains intact, and we see a long runway of growth ahead of us.”

Sula Vineyards is principally engaged in the business of manufacture, purchase and sale of premium wine and other alcoholic beverages.