United Breweries Ltd on Thursday reported a 66.94 percent growth in consolidated net profit for the quarter ended September. The net profit for the period under review stood at Rs 134.1 crore mainly on the back of volume growth. The company had posted a net profit of Rs 80.3 crore in the year-ago period.
The shares of the company rose as much as 1.7 percent on Friday. However, the stock of the beer maker was trading 0.4 percent lower at Rs 1,649.9 on BSE at 12:06 pm.
The Dutch multinational brewing company Heineken NV controlled company reported its revenue from operations at Rs 3,673.51 crore, up 11.5 percent from the corresponding period of the previous fiscal. The company said that the volumes in the second quarter of the current fiscal were up 23 percent, compared to the corresponding quarter and three percent higher than the pre-pandemic numbers of the July-September 2019.
However, the company reported a 508 bps decline in gross margin during the quarter due to continued inflationary pressures on costs, particularly on prices of barley and packaging materials.
The total expenses of company stood at Rs 3,507.1 crore, up 9.9 percent compared to the year-ago period and the capex stood at Rs 90 crore. "However, with continued volume growth, Capex investments are planned to meet the expected volume expansion," the company said.
In September, the company had announced a new variant in the premium beer segment called Heineken Silver. The company claims that Heineken Silver will be a smooth and refreshing beer that is meant for daily social events. Interestingly, the brand has also launched the beer on the Metaverse making it the world’s first virtual beer. The company launched the beer through its virtual brewery in Decentraland.
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