India: Carlsberg India’s profit jumps 60.5% in FY24

Carlsberg India has seen its profit jump 60.5 per cent to ₹323.1 crore in FY’24, according to RoC filing by the company, The Hindu Business Line reported on March 16.

The total income of Carlsberg India was up 15.2 per cent at ₹8,044.9 crore for the financial year ended March 31, 2024, according to the financial data accessed through business intelligence platform Tofler.

This is the highest revenue for Carlsberg in India, crossing the milestone of ₹8,000 crore, reaching nearly $1 billion from sales.

"During the financial year 2023-24, profit amounting to ₹323 crore under the standalone financial statement has been carried forward to 'Reserve and Surplus,' including other comprehensive income in the balance sheet," the company said.

The company, while informing its state of affairs, said the beer industry continued to post healthy growth in volumes.

"Cash and bank balances increased from ₹9,304 million to ₹11,165 million with strong business performance, better trade working capital and lower capital investment," it said.

Carlsberg India Pvt Ltd had reported a total profit of ₹201.3 crore a year before in FY'23, and its revenue from operations was at ₹6,937 crore on a standalone basis.

Its "Excise duty expense" in FY'24 was at ₹4,877.8 crore, up 13.4 per cent. This was at ₹4,301.6 crore a year before in FY'23.

Advertising promotional expenses of Carlsberg India were at ₹96.5 crore in FY'24 and total expenses stood at ₹7,628.3 crore, up 13.4 per cent.

While the market share from the data from the corporation states declined to 13.3 per cent, from 14.9 per cent in the fiscal year 2023-24, Carlsberg India continues to hold the number three position in the Indian beer market.

Carlsberg India is the subsidiary of Singapore-based South Asian Breweries Pte Ltd, owned by Danish brewing major Carlsberg.

Carlsberg competes in the Indian beer industry with Heineken-owned United Breweries Ltd and AB InBev. These three companies account for 85 per cent of the beer sold in India.

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