(Reuters) - United Spirits Ltd, India’s largest liquor company, posted about 9 percent fall in third-quarter profit on Tuesday and missed estimates, hurt by higher marketing investment.
The company, majority-owned by Diageo Plc, said profit was 1.35 billion rupees ($21.17 million) in the quarter ended Dec. 31, compared with 1.48 billion rupees, a year earlier. bit.ly/2Bm73tF
Analysts on an average estimated a profit of 2.02 billion rupees, according to Thomson Reuters Eikon data.
($1 = 63.7700 Indian rupees)
Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Arun Koyyur