Sula Vineyards' revenue up 14% to Rs 116 crore in Q2

New Delhi: Leading wine producer Sula Vineyards Ltd on Wednesday said its net revenue from its own brands has grown to Rs 116.2 crore in the September quarter, registering an increase of 14 per cent.

Its wine tourism business was up 26 per cent at Rs 12.1 crore, Sula Vineyards said in its "Sales Update Q2 & H1 FY24".

According to the company, this is the "highest-ever Q2 net revenues overall as well as for the priority Own Brands and Wine Tourism businesses".

Its net revenue from its own brands in the July-September quarter a year ago was at Rs 102 crore and wine tourism at Rs 9.6 crore.

"The company is anticipating a strong harvest once again despite the irregular monsoon, which bodes very well for meeting the increasing demand for our elite and premium wines," it said.

During the quarter, Sula also expanded the Nasik winery tasting room, to keep up with the continuing surge in visitor numbers.

"The future looks even brighter as we achieved our highest ever footfall on Oct 1, 2023, with a record 3,8501," the company's CEO Rajeev Samant said.

Wine tourism represents room revenue, sale of food & beverages, merchandise, and all other ancillary products/services; excluding sale of wine on-site.