Fuelled by a spirited volume growth in its major markets, beer maker United Breweries (UBL) on Wednesday reported a 247% year-on-year rise in its net profit to Rs 93.84 crore for the September quarter.
Fuelled by a spirited volume growth in its major markets, beer maker United Breweries (UBL) on Wednesday reported a 247% year-on-year rise in its net profit to Rs 93.84 crore for the September quarter. The company’s net profit for the same quarter last fiscal stood at Rs 27.05 crore. UBL witnessed a 24.5% growth in its total income at Rs 2,739 crore for the July-September period, against Rs 2,200 in the corresponding quarter last year. The company attributed rise same to price increases, beer exports and drop in finance costs. “During the quarter ended September, both the beer industry and the company saw volume growth,” United Breweries said in a regulatory filing with the BSE. On Wednesday, UBL traded at a new 52-week high of Rs 1,190 on the BSE but closed at Rs 1,137.55 down 0.9%.
In the second quarter, the company recorded volume growth in most of the large markets except for Maharashtra, West Bengal and Kerala, although Mumbai and Kolkata saw some growth. While UBL’s volume grew 11%, the industry grew 5%, UBL said. Operating profits grew 72% year-on-year to Rs 171.59 crore. In the northern region, it realised a significant volume growth in all key markets such as Delhi, Uttar Pradesh and Rajasthan. In the southern markets like Andhra Pradesh, Telengana, Tamil Nadu and Karnataka, UBL saw good volume growth, resulting in market share gains.