India's Sula Vineyards at lowest since April 2023 on Q2 profit slip

United Spirits

13/11/2024 04:11

** Sula Vineyards  SULA.NS  slips 8% to 382.4 rupees, lowest
since April 28, 2023
    ** Wine maker's Q2 profit falls 37%, as slowdown in
discretionary spending, especially in urban areas, dampened
demand
    ** Rev drops 1.1%, while total expenses up ~10%
    ** SULA trading below key 50-, 100-, 200- day moving avg
    ** Stock marks busiest day in a week, with over 260,000
shares traded
    ** SULA loses 21% YTD, vs 29% surge in peer United Spirits
 UNSP.NS 

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))