New Delhi, Nov. 3 -- Alcohol sales have been under pressure for a while as consumer spending slowed, major states hiked taxes, and younger Indians began drifting away from drinking altogether.
In the September quarter, the picture turned mixed-worse for some, better for others. Relentless rains and weak discretionary spending dented wine and beer sales, even as some states and segments held up better. Where did alcohol sales land this quarter, and what lies ahead? Mint explains.
Torrential rain and a monsoon season that refused to end hurt beer sales in the September-ended quarter.
United Breweries, the maker of Kingfisher beer, reported a 3% year-on-year decline. Three of its breweries were flooded due to heavy rains, forcing the comp...
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