India: United Breweries reports net profit of ₹30.94 crore for April-June period versus net loss last year

Beer maker United Breweries Ltd on July 28 reported a consolidated net profit of ₹30.94 crore for the quarter ended June.

The company had posted a net loss of ₹114.50 crore during the April-June period of the previous fiscal, United Breweries Ltd (UBL) said in a regulatory filing.

Revenue from operations rose over two-fold to ₹2,652.63 crore during the quarter under review as against ₹1,262.82 crore in the corresponding period of the previous financial year.

Revenue from the beer segment more than doubled to ₹2,645.75 crore as against ₹1,255.67 crore earlier.

Non-alcoholic beverages revenue slipped 3.77% to ₹6.88 crore from ₹7.15 crore.

"The performance in the quarter has placed UBL in a strong position with respect to market leadership, brand portfolio and a robust balance sheet, all essential to navigate the current unpredictable environment," UBL said in a post-earnings statement.

Total expenses were at ₹2,616.14 crore in Q1 FY 2021-22, up 84.69% from ₹1,416.43 crore in the year-ago period.

"Business commenced in April 2021 on a good trend but a spike in infections and related Government restrictions towards the last weeks of April resulted in challenging market conditions," it said.

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