Radico, which sells brands like Magic Moments vodka and Morpheus brandy, said it reduced net debt by Rs130 crore during the first nine months of 2017-18. Bengaluru: Liquor firm Radico Khaitan Ltd plans to become a debt-free company in three years, its managing director said on Wednesday, even as the company reported a 77.71% jump in net profit for the fiscal third quarter. Radico, which sells brands like Magic Moments vodka and Morpheus brandy, said it reduced net debt by Rs130 crore during the first nine months of 2017-18. In the first half we had Rs72 crore debt reduction. The country’s third-largest liquor maker reported a net profit from continuing operations of Rs35.01 crore, up from Rs19.70 crore a year ago.

Source: Mint January 24, 2018 20:03 UTC