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Sula Vineyards records highest own brands & wine tourism revenues in Q2 FY25
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Friday, 18 October, 2024, 14 : 00 PM [IST]
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Our Bureau, Mumbai
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Sula Vineyards Limited, India’s leading wine producer, announces its Q2 & H1 FY25 sales update. The company reported its highest ever Own Brands revenue in Q2 FY25 driven by the Elite & Premium portfolio which recorded high-single digit growth. The share of Elite & Premium increased to 80% in Q2FY25 vs. 74% in Q2FY24. Along with a number of other markets, Telangana - company’s third largest market were a bright spot recording strong double-digit growth in Q2 FY25.
Growth in Q2FY25 was subdued primarily due to a broader slowdown in discretionary spending at the macroeconomic level as well as challenges in key markets - policy ambiguity in Karnataka and significant issues with the Delhi Excise portal in the last 15 days of Q2 FY25. The company is optimistic that these setbacks are temporary and will resolve in the coming months.
Wine Tourism business demonstrated resilience in Q2 FY25 recording its highest ever second quarter revenues, led by a 9% YoY increase in spend per guest and improved occupancy rates (74% in Q2FY25 vs. 66% LY) even amid lower footfalls.
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