Synopsis
“On-trade continues to be adversely impacted, both store openings and footfalls. It remained restricted and there are restrictions on capacity, on timings and the size of social gatherings around the country. So on-trade still remains subdued,” she added in her first interaction with investors after she joined the company in April.
Agencies
USL on Friday announced it has sold its stake in technology start-up Hip Bar for about ₹52 lakh, nearly three years after investing ₹27 crore in the alcohol delivery platform.
United Spirits (USL), the country’s largest liquor company, said demand at retail stores remained resilient within the constraints of the lockdown but consumption of liquor at bars and restaurants (on-trade) still remains a challenge. “As we exited June, we had full operations as far as off-trade was concerned,” Hina Nagarajan, managing director at USL said in an earnings call.