Sula Vineyards CFO Bittu Varghese Resigns
He will be relieved of his duties on 9 June, 2023.
The largest wine producer in the country, Sula Vineyards on Saturday announced that Bittu Varghese, chief financial officer of the company has resigned. He tendered his resignation on 10 March,2023.
“we hereby inform that Mr. Bittu Varghese, Chief Financial Officer, and Key Managerial Personnel of the Company, on March 10, 2023, has tendered his resignation from the services of the Company to pursue his professional interests outside Sula," said Sula Vineyards in its filing.
He will be relieved of his duties on 9 June, 2023. Sula Vineyards said it is in the process of appointing a new CFO.
“The Company is in the process of appointing a new Chief Financial Officer and the same will be duly communicated to the stock exchanges in due course," the filing added.
Sula Vineyards reported a 15 per cent increase in net profit at ₹39 crore for the quarter ended December 2022. This is against a net profit of ₹34 crore in the year-ago period.
The company's revenue rose 14 per cent at ₹209 crore as compared to ₹183 crore in Q3FY22.
In Q3, Sula recorded the highest-ever quarterly gross billings overall in both its own brands and wine tourism business. Sula registered an upside of 13 per cent in own brands sales to ₹187.2 crore during Q3 as compared to ₹165.7 crore in Q3FY22. While in nine months period of FY23, the growth was at 28 per cent on a year-on-year basis. The company posted a 13 per cent growth in wine tourism revenues to ₹23 crore during Q3.
On Friday, the company's scrip ended 0.98 per cent down at ₹355.20 on BSE.
Catch all the
Corporate newsand Updates on Live Mint. Download The
Mint News Appto get Daily
Market UpdatesBusiness News.
No Network
Server Issue
Internet Not Available
" + planName + ""; /* current plan info ends */ /* next billing html starts */ if (planData.next_billing_at != "" && planData.next_billing_at != "null" && typeof planData.next_billing_at != "undefined") {billingCycleText = "Next Billing Date : "; nextActivationDate = planData.next_billing_at; } else if (planData.expires_at != "" && planData.expires_at != "null" && typeof planData.expires_at != "undefined") {billingCycleText = "Expiry date : "; nextActivationDate = planData.expires_at; } else {billingCycleText = "Expiry date : "; nextActivationDate = planData.current_term_ends_at; } var nextBillingMonth = new Date(nextActivationDate).toDateString().split(" ")[1]; var nextBillingDay = new Date(nextActivationDate).getUTCDate(); var nextBillingYear = new Date(nextActivationDate).getFullYear(); var nextBillingHtml = nextBillingDay ? "" + billingCycleText + nextBillingDay + " " + nextBillingMonth + " " + nextBillingYear + "
The Self-Destructive Nature Of Anti-Tourism Protests: Balancing Resident Concerns With Tourism Benefits
In recent years, anti-tourism protests have become increasingly common across popular tourist destinations. From the Bal... Read more
Military And Strategic Implications Of The Ukrainian Drone Attack In Kursk
On a recent morning, the Kursk region in south-western Russia witnessed an unexpected and significant event: a Ukrainian... Read more
Chinese Tech Stocks Gain Ground Despite Wall Street Technology Sell-Off
Chinese tech shares in Hong Kong gained on Friday, defying a technology stock sell-off on Wall Street, driven by strong ... Read more
Defense Pact Between Britain And Germany: A Focus On Cybersecurity And Joint Operations
In a move set to redefine European defense collaboration, Britain and Germany have signed a comprehensive defense pact a... Read more
US Secret Service Director Steps Down After Trump Assassination Attempt
Security lapses admitted by Kimberly Cheatle prompt resignation.Kimberly Cheatle, the head of the US Secret Service, has... Read more
Kamala Harris Promises A Brighter Future In Official Campaign Launch
In a vibrant and impassioned campaign launch, Vice President Kamala Harris vowed to lead America toward a "brighter futu... Read more