Leaving on a High

Diageo India's consolidated net profit for the June 2024 quarter was ₹485 crore compared to ₹50.3 crore for the June 2021 quarter

- Shrabonti Bagchi

The view from the 10th floor office of Diageo India in UB Tower is stunning. The wall-to-wall windows face Cubbon Park, overlooking a canopy of trees stretching to the horizon and obliterating Bengaluru's urban sprawl and never-ending traffic. "Will you miss this view?" I ask Hina Nagarajan, the outgoing managing director and CEO of Diageo India. After four years in the role—she was appointed in July 2021—Nagarajan is moving on to a global role as president of Diageo Africa and will continue to be part of the global executive committee at Diageo Plc, the British multinational that took over India's United Spirits Ltd in 2013 by buying a majority stake in the company.

"I absolutely will," says Nagarajan, smiling. "Bangalore has become home over the past four years when I moved here from Gurgaon. In fact, Arvind (husband Arvind Nagarajan) and I will continue to have a house here, even though we will be moving to London. So yes, of course I will miss Cubbon Park—but I do have views of Hyde Park to look forward to."

Nagarajan is leaving Diageo India on a high. Under her leadership, not only did the company successfully navigate the tough second phase of the covid-19 pandemic, when the hospitality business, and consequently liquor sales, took a huge hit, she is leaving the company in a much stronger position than when she joined.

To take just one metric, Diageo India's consolidated net profit for the June 2024 quarter was ₹485 crore, a slight increase from ₹477 crore in June 2023—compare this to the consolidated net profit in the June 2021 quarter, ₹50.3 crore. To take another, the market capitalisation of the company crossed ₹1 trillion last year, up from approximately ₹40,000-45,000 crore in mid-2021.