India: United Breweries announces five-fold consolidated profit increase
United Breweries Ltd., a manufacturer of beer, announced on July 27 a five-fold increase in its consolidated net profit to Rs162.50 crore for the June quarter, mostly due to volume increases.
According to a regulatory filing, the business, which is owned by the Dutch global brewer Heineken NV, reported a net profit of Rs30.94 crore during the previous fiscal year.
During the reviewed quarter, United Breweries Ltd.'s (UBL) operating revenue increased 95.88% to Rs5,196.08 crores. When compared to the same time in the prior fiscal, it was Rs2,652.63 crore.
On an annual basis, the company's volumes in the first quarter of the current fiscal year were more than twice as high as those in the COVID-affected quarter. UBL's stock increased about 2% on July 27, closing at Rs1,636.25 on the BSE.
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