United Spirits falls nearly 4% on poor Q4 show; Macquarie maintains neutral

Shares of United Spirits shed nearly 4 percent intraday Thursday on the back of weak set for numbers for Q4FY19.

The company's Q4FY19 net profit declined 40.2 percent at Rs 126.2 crore against Rs 211 crore in the same quarter last fiscal.

Revenue of the company was down 3.5 percent at Rs 2,250 crore versus Rs 2,173.7 crore.

Operating profit or EBITDA rose 2.9% at Rs 283.6 crore, while margin was at 12.6 percent.

Research house Macquarie has maintained neutral call on the United Spirits with a target at Rs 583 per share.

According to firm, the pressure on gross margin may continue in the near term, while the company has levers to cut operating costs in the medium term.

The company's margin was at 12.6%, helped by lower A&P sends, it added.

At 09:52 hrs United Spirits was quoting at Rs 532.75, down Rs 2.60, or 0.49 percent on the BSE.

The share touched its 52-week high Rs 716 and 52-week low Rs 439 on 25 June, 2018 and 09 October, 2018, respectively.

Currently, it is trading 25.59 percent below its 52-week high and 21.36 percent above its 52-week low.