Sula Vineyards Q4 Results: Net profit rises 4.8% on sales growth

Mumbai: Sula Vineyards Limited posted 7.1% growth in sales while net profit rose 4.8% during the quarter ended March.

Sales rose to Rs 120 crore while profit after tax was Rs14.2 crore. The country's biggest winemaker said -own brands - revenue contribution jumped 86.3% during the fourth quarter with a volume growth of 14.4%.

"Given the excellent harvest this year, the ongoing boom in domestic wine tourism, and more consumers choosing our premium Indian wines, we are looking forward to another strong year ahead," said Rajeev Samant, CEO of Sula Vineyards adding that over 3.4 lakh visitors visited its vineyards in Maharashtra and Karnataka.

The company that went public in December last year posted a 21.9% growth in sales during FY22-23 on a net profit of Rs84 crore. Profit margins rose 370 basis points to 15.2% last fiscal.

The company said - own brands - saw its contribution to revenue going to 87%. The wine tourism business saw a revenue growth of 29.9% while vineyard resorts ‘The Source’ and ‘Beyond by Sula’ had 82% occupancy, it said.