The promoter group company of United Breweries Ltd., Heineken N.V., has posted high-single-digit revenue growth in India during the March quarter.
Heineken has witnessed its net revenue in the Indian market grow organically by a high single-digit figure, led by pricing measures and volume growth during the period.
The beer brand Kingfisher drove the volume growth for the beer segment in India, which witnessed a mid-single-digit growth. Further, Heineken’s premium portfolio grew in revenue among the high-teens user category, thanks to higher sales of the Kingfisher Ultra as well as Heineken Silver brands.
Beer and non-alcoholic beverages maker United Breweries, which became a part of the Amsterdam-based Heineken Group in July 2021, reported an estimated volume growth of 10 percent in the March quarter.
The company’s volume growth trend involves a 7 percent rise in the March quarter of the financial year 2021-22, followed by a sharp 121 percent uptick in the first quarter of the financial year 2022-23.
In the July quarter of the financial year 2022-23, United Breweries witnessed its volume growing by 26 percent, followed by a 4 percent rise during the September quarter.
The manufacturer of Kingfisher beer, United Breweries reported a consolidated net loss of Rs 1.81 crore in the December quarter from a net profit of Rs 91.02 crore in the year-ago quarter.
The net loss was a result of the company’s assets being impaired in Tamil Nadu and Andhra Pradesh, along with higher expenses.
Shares of United Breweries are trading 0.36 percent higher at Rs 1,405.35.
