United Breweries reports sharp jump in December quarter profit
United Breweries Ltd (UBL) Thursday reported an over twofold increase in standalone profit to Rs 109.17 crore for the December 2018 quarter, on volume growth, higher realisations and cost control. It had posted a profit of Rs 47.38 crore during the corresponding period of the previous fiscal.
Total income during the third quarter of the current financial year stood at Rs 3,190.5 crore, up 22.19 per cent, as compared with Rs 2,610.9 crore in the year-ago quarter, UBL said in a regulatory filing. Expenses were Rs 3,013.26 crore, a rise of 19.01 per cent as against Rs 2,531.8 crore a year ago.
"UBL posted a good all-around performance with market leading volume growth, higher realisations and cost control of both input prices and fixed costs to deliver a significant increase in profits. "All key markets witnessed growth with the exception of West Bengal, where a steep increase in consumer prices on account of a duty hike at the beginning of the year continues to depress the market," the company said in a statement. Shares of the company rose 0.71 per cent to close at Rs 1,403.95 apiece on the BSE.
(With inputs from agencies.)