United Spirits Ltd (USL), India's biggest alcoholic drinks company, has registered a net profit of Rs 69.60 crore for the second quarter ended September 30, down 25% against Rs 93.89 crore during the year-ago period.

However, company’s total income grew up by 19 per cent to Rs 1091 crore for the quarter ended September 30, 2009, compared with Rs 914 crore for the quarter ended September 30, 2008.

Recently, the company has raised Rs 1615.60 core by issuing 1.76 crore shares at Rs 913.70 a piece to qualified institutional investors.  The company will utilize net proceeds of the issue to reduce debt incurred upon the acquisition of

Scottish whisky maker Whyte and Mackay, to repay other debt, to fund capital expenditure and for other corporate purposes.

It should be recalled that United Spirits had bought Scottish spirits maker Whyte & Mackay for 595 million pound sterling in May 2007.

The stock of the company today closed at Rs 999 on BSE, down 5% compared to previous close of Rs 1048. The stock had hit a 52-week high of Rs 1090 on 7 August 2009 and a 52-week low of Rs 425.65 on 27 January 2009.