United Breweries on Wednesday posted 22.62 per cent increase in its net profit at Rs 120.96 crore for the first quarter ended June 30, 2013, on account of robust sales in key markets like Delhi, Rajasthan and Punjab.
United Breweries had posted a net profit of Rs 98.64 crore during the same period of previous fiscal.
Net sales of United Breweries rose to Rs 1208.33 crore for the first quarter, compared to Rs 1,099.26 crore during the same period of previous year, company said in a filing to the BSE.
"The company posted volume growth in key markets resulting in revenue growing ahead of volume. The double digit growth in Delhi, Rajasthan, Punjab, Orissa and Uttar Pradesh resulted in market share gains," it added.
During the quarter under review, United Breweries also witnessed growth in Andhra Pradesh and Karnataka, it said.
The Bangalore-based firm said it took price increases in some select markets during the period under review that helped in offsetting input price increase.
The company said land acquisition for a new project in Bihar has been completed.
Shares of UBL today closed at Rs 757.80 apiece on the BSE, down 1.23 per cent from their previous close.