Sula surges 3% as wine tourism receives record visitors in Christmas

In the second quarter, Sula reported an 18.4 percent increase in net profit to Rs 23 crore

Shares of Sula Vineyards Limited traded 3 percent higher at Rs 488.5 in early trade on December 28 after the company announced that its wine tourism business received over 5,000 customers on the Christmas Eve, marking an all-time high.

During the festive weekend from December 23 to 25, there was a notable increase in the number of visitors, setting records for single-day, two-day, and three-day attendance. Over 12,000 individuals explored Sula's wine tourism facilities in Nashik and Bengaluru during this period.

At 9:25am, the counter was trading at Rs 486, up 2.2 percent from the previous close on the NSE. Since the start of the year, the stock has gained over 45 percent on the bourses.

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On December 24 and 25, both surpassed the earlier single-day revenue record of Rs 83 lakh set on August 13, 2023. December 24, with a new single-day high of Rs 85 lakh, claimed the top spot. Records were also broken for the highest single-day, two-day, and three-day revenue, with takings from December 23 to 25 totalling Rs 2.28 crore.

Tastings, a major focus of Sula’s wine tourism, also set a record with over 5,300 individual tastings over the 3 days, a jump from the previous 3-day record of 4,700 tastings, the company said in an exchange filing on December 27.

In the second quarter, Sula reported an 18.4 percent increase in net profit to Rs 23 crore against the Rs 19 crore posted in the year-ago period. The company said its wine tourism business, which is one of the biggest in the world, has been “impressive” in Q2. Tasting numbers continue to soar with over  49,000 tastings at vineyards and in over 35 cities across India, marking a 43 percent YoY growth.

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