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Spirit maker Radico Khaitan has nearly doubled its standalone net profit for the January-March quarter, on a year-on-year basis, at Rs 73.55 crore.

During the same period of FY20, the company had posted a standalone net profit of Rs 38.44 crore.

Its revenue from operations for the quarter under review increased 30.4 per cent to Rs 2,881.19 crore.

For the financial year 2020-21, Radico Khaitan reported a 19 per cent growth in its standalone net profit at Rs 270.56 crore.

Chairman and Managing Director Lalit Khaitan said: "We are delighted to report a robust operational and financial performance during the year FY2021 which started on an otherwise challenging note. Immediately after the nationwide lockdowns started to ease out in May 2020, our operations rebounded very quickly and we also saw improvement in the industry performance on a quarter-on-quarter basis."

"During Q4 FY2021, the company experienced year-on-year growth in most of the top markets that it operates in.

"Through the second half of FY2021, we had seen sustained improvement in various macroeconomic indicators demonstrating a strong economic revival which coupled with supportive monetary and fiscal policy framework had positioned India for a strong recovery," Khaitan added.

Managing Director Abhishek Khaitan said: "We are confident that this is a temporary phase of uncertainty but as soon as this is over, we shall see a strong recovery in our sale volumes. With our focus on operational efficiencies and strategic investments behind our brands, we are very well positioned for another successful year ahead."