AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
from BUSINESS LINE, April 29, 2009 Bangalore, April 28 - Higher interest costs have dragged down the net profit of United Spirits to Rs 55.62 crore, a drop of 14.57 per cent for the fourth quarter of 2008-09.
For the full year, there was a 4.5 per cent drop in net profit because of the higher interest costs. A press statement from the company said that for the fiscal, interest costs were up by Rs 54 crore to Rs 183 crore on account of three factors - a rise in overall working capital expansion to fund the growth, a spurt in the interest rates at various points in the fiscal year and a rise in the exchange rate.
For the fourth quarter, while the net profit …