Shares of Liquor manufacturer Radico Khaitan Ltd. ended at the day's high on Wednesday after dropping nearly 4 percent in early trading. The company reported a 20 percent drop in net profit compared to the year-ago period.

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Revenue for the quarter increased 5 percent to Rs 792 crore while operating profit or EBITDA saw a drop of 19 percent year-on-year.

Margins also dropped to 12.2 percent in the quarter under review from 15.7 percent in the same quarter a year ago.

Radico Khaitan's total volume growth was flat at 6.99 million cases in the December quarter as compared to 6.98 million cases in the year-ago period.

Volume in regular and other segments fell by 22.6 percent year-on-year to 3.53 million cases, whereas those in the prestige and above brand category rose 14 percent to 2.59 million cases.

As of December 2022, the liquor maker had a net debt of Rs 426.7 crore.

Radico Khaitan's management said that the raw material scenario still remains volatile and they have noticed early signs of deflation in certain commodities.

Shares of Radico Khaitan ended 0.8 percent higher at Rs 1,127.30.

(Edited by : Rukmani Krishna)