Tilaknagar Industries Boosts Profits with Strategic Growth

Tilaknagar Industries Ltd reported a 57.2% increase in net profit to Rs 58.23 crore for the quarter ending September 2024, driven by cost-optimisation and marketing strategies. The company's revenue rose to Rs 823.32 crore, with profitability boosted despite a temporary market slowdown. The company is now net debt-free ahead of schedule.

Tilaknagar Industries Ltd, a leading Indian-Made Foreign Liquor (IMFL) manufacturer, has announced a notable 57.2% rise in its consolidated net profit, reaching Rs 58.23 crore for the second quarter of the fiscal year ending September 2024. This financial upturn is attributed to the company's adept cost-optimisation and strategic marketing initiatives, according to their regulatory filings.

The company's revenue from operations surged 9.74% year-on-year, amounting to Rs 823.32 crore for the September quarter. Notwithstanding, the company faced muted net revenue growth due to a transition in Andhra Pradesh's liquor market policy, which recently opened retail to private parties.

Tilaknagar Industries marked a significant milestone by achieving a net debt-free status six months ahead of the target, a feat accomplished through rigorous financial strategies and robust growth. The company's shares increased by 16.23% on BSE, closing at Rs 338.65, affirming investor confidence in its transformative journey.

(With inputs from agencies.)