United Spirits arm aquires Liquidity for USD 3 mn
United Spirits arm aquires Liquidity for USD 3 mn United Spirits said on Friday that the company through its Cyprus-based wholly owned subsidiary Zelinka acquired a majority stake in Liquidity, a Delaware Corporation engaged in the business of alcoholic beverages for USD 3 million.
Recently, the company reported a phenomenal jump in net profit for the quarter ended June 2007. During the quarter, the company`s profit rose 2.53 times to Rs 875.80 million from Rs 346.80 million in the same quarter, last year.
The net sales for the quarter jumped 43.52% to Rs 7,657.10 million compared with the corresponding quarter, a year ago.
Shares of the company gained Rs 45.7, or 2.76%, to settle at Rs 1,704.4. The total volume of shares traded was 181,613 at the BSE. (Friday)
