Revenue from operations (excluding excise duty) stood at Rs 3,432 crore in Q3 FY25, up 14.82% YoY, mainly driven by resilient consumer demand in peak festive season and a fast scale-up in Andhra Pradesh.

Prestige & Above segment accounted for 89.2% of net sales during the quarter, up 1.0 ppts over the prior year. Prestige & above segment net sales increased 16.1% in Q3 FY25.

Popular segment accounted for 9.7% of net sales during the third quarter of FY25, down 0.5 ppt compared to the same period last year. Popular segment net sales value registered a growth of 9.6% during the quarter.

Profit before tax jumped 35.86% to Rs 621 crore in Q3 FY25, compared to Rs 457 crore recorded in Q3 FY24.

EBITDA stood at Rs 588 crore in Q3 FY25, registering a growth of 19.75% YoY. EBITDA margin improved to 17.1% in Q3 FY25, compared to 16.4% reported in Q3 FY24.

Gross margin was at 44.7% in Q3 FY25, up 131 bps versus last year on the back of sustained revenue growth management interventions and productivity flow-through.

A&P re-investment rate was 11% of net sales, reflecting the seasonality of the peak consumption quarter and investment behind the brands and innovations.

Interest cost was at Rs 20 crore and is on account of customary non-debt-related expenses.

Hina Nagarajan, managing director & chief executive officer (CEO) of United Spirits, said, “Amidst a moderate but sequentially improving demand environment, we have delivered a quarter in line with our aspirations buoyed by the festive season and fast scale-up in the state of Andhra Pradesh. Looking ahead, we remain cautiously optimistic in the short term while remaining committed to the long-term potential of the India consumer story.”

United Spirits is the largest Indian spirits company that manufactures, sells, and distributes beverage alcohol, producing and selling around 60 million cases of Scotch whisky, IMFL whisky, brandy, rum, vodka, gin, and wine. Its portfolio of over 15 brands includes McDowell's No. 1, Royal Challenge, Signature, and Antiquity, as well as Diageo’s iconic brands such as Johnnie Walker, VAT 69, Black & White, Smirnoff, and Ciroc.

Shares of United Spirits shed 0.79% to Rs 1,488.90 on the BSE.