Sula Vineyards on Wednesday posted a 6.9% growth in its first-quarter net profit.

What Happened: The winemaker posted a net profit of ₹14.63 crore for the quarter ended June 30, compared with the ₹13.68 crore it earned in the same quarter last year.

The small-cap vintner clocked a quarterly revenue of ₹128.44 crore, up 10.2%% from the ₹116.59 crore it raked in in the same quarter last year.

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Sula said the growth in earnings came “despite the significant headwinds” faced during the quarter, including the national elections, which led to restrictions on the movement of alcoholic beverages and several dry days, as well as a scorching heatwave. “Both these factors impacted trade offtake and end consumer demand in Q1,” CEO Rajeev Samant said. 

As it looks to expand its tourism business to diversify its revenue streams, Sula Vineyards recently rolled out plans to expand its wine tourism operations by launching a 30-room resort at York Winery, located on the company's Nashik property, in 2026. 

Currently, as part of its tourism and hospitality business, Sula has two other hotels: the 37-room Beyond by Sula and the 66-room The Source at Sula.

Price Action: Ahead of results, Sula’s share price ended Wednesday’s session up 1.53% at ₹486.95. The stock has given up nearly 2% so far this year.

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