" The audit panel's intervention has further delayed the results for fourth quarter (January-March) and full fiscal (2013-14) after deferring them May 16 and May 27 due to unspecified reasons and accounting related to sale of its White and Mackay business."
Bangalore, Aug 2 - United Spirits Ltd has deferred its annual results for fiscal 2013-14 once again after its audit panel sought clarifications, the company said in a regulatory filing with the Bombay Stock Exchange (BSE) Saturday.

The board meeting could not be held Friday to consider the audited financial results for the year ended March 31, 2014, because the audit committee has sought certain clarifications and information on the draft financial results and related issues, the country's largest liquor firm said in the notification.

In the absence of clarifications and information, the board decided to adjourn the meeting to a later date, which would be informed to the BSE when finalised.

United Spirits is presently controlled by British liquor major Diageo plc after it bought majority stake (54.8 percent) in the company, including 25 percent from the UB group of liquor baron Vijay Mallya and 26 percent from its investors for Rs.11,449 crore July 2.

The audit panel's intervention has further delayed the results for fourth quarter (January-March) and full fiscal (2013-14) after deferring them May 16 and May 27 due to unspecified reasons and accounting related to sale of its White and Mackay business.

The company, which has 21 brands in its portfolio, sold 124 million cases in 2012-13 and has about 60 percent market share in the country.


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