India: United Breweries posts over 13-fold jump in Q4 net profit
United Breweries Ltd (UBL) reported on May 24 over 13-fold jump in its standalone net profit of Rs 90.88 crore for the fourth quarter ended March 2018 led by strong volume growth. The company had posted a net profit of Rs 6.73 crore in the January-March period a year-ago, UBL said in a regulatory filing.
Its total income during the quarter under review was up 27.84 percent to Rs 3,275.38 crore as against Rs 2,562.03 crore in the corresponding quarter of the previous fiscal.
"In the fourth quarter ended March 2018, UBL recorded a volume growth of 24 percent compared with industry growth of 22 percent," the company said in a statement.
It further added that this growth was partly the result of a low comparative, as the fourth quarter of 2016-17 already included the effects of the highway ban.
"Net revenue grew 32 percent, primarily due to volume growth and also a favourable state mix," it added.
UBL's total expenses during the period stood at Rs 3,138.56 crore as against Rs 2,554.41 crore, up 22.86 percent.
For the entire 2017-18, UBL's consolidated net profit was up 71.63 percent to Rs 394.63 crore, compared to Rs 229.92 crore in 2016-17.
Its total consolidated income stood at Rs 12,443.75 crore as against Rs 10,281.51 crore in 2016-17, up 21.03 percent.
Shares of United Breweries on May 24 settled at Rs 1,180.05 apiece on BSE, up 0.22 percent from their previous close.
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