Vijay Mallya’s liquor firm United Breweries today reported a net profit of Rs 42.62 crore for the second quarter ended September.
The company had posted a net loss of Rs 18.57 crore during the same period of previous fiscal.
Net sales of the company stood at Rs 959.86 crore during the second quarter, up 27.60 per cent as against Rs 752.2 crore in the same period of previous fiscal, United Breweries Ltd said in a filing to the BSE.
“The just concluded quarter saw the company achieving better gross profit margins on account of selective price increase in some markets and lower input costs primarily due to usage of a higher percentage of recycled bottles,” the company said in a statement.
“Double digit industry growth was widespread across regions, growth spurred primarily on account of strong beer. Mild beer too witnessed promising growth,” it added.
United Breweries said its plan for setting up a greenfield brewery in Bihar is on track and it is likely to commence operations during the last quarter of this fiscal.
Shares of United Breweries were trading 2.67 per cent up at Rs 704.95 during afternoon session on the BSE.