Pernod Ricard's India revenue jumps 27% in FY19

Pernod Ricard, the maker of Absolut vodka and Chivas Regal scotch, has reported a 27% jump in its India revenues in FY18-19, highlighting the strong demand for its premium brands on a favourable base.

However, the French liquor firm's profit growth at 6% slowed down significantly due to increased taxation and one-upmanship with its largest rival Diageo.

In the year-to-March 2019, the world's second largest distiller had gross sales of 20,335 crore. The company’s growth numbers surpassed Diageo's Indian business, which rose 10% in revenues at 28,512 during the same period.

Pernod’s net profit at 1,303 crore was nearly double that of its larger rival United Spirits (659 crore) during the year. USL has more than 100 brands in its portfolio like Bagpiper and DSP Black and the top 15 brands contribute over 80% to its sales, led by McDowell and Celebration.