Beer maker United Breweries Ltd on Thursday reported a consolidated net profit of Rs 85.80 crore in the third quarter ended on December 2023.
The company, controlled by Dutch multinational brewing company Heineken NV, had posted a net loss of Rs 1.81 crore in the October-December quarter a year ago, United Breweries Ltd (UBL) said in a regulatory filing.
UBL's revenue from operations was up 12.28 per cent to Rs 4,154.98 crore during the quarter under review. It was at Rs 3,700.49 crore in the corresponding period of FY23.
"Q3 volumes were up 8 per cent driven by healthy underlying demand" and the premium segment grew ahead of the portfolio, said UBL in earning statement.
The premium segment grew 14 per cent.
Its volume growth driven by Tamil Nadu, Telangana, Orissa, Maharashtra and Rajasthan partially offset by decline in Delhi and Kerala. It has gone for price increase in key markets including Rajasthan, Uttar Pradesh and Karnataka.
UBL's total expenses were at Rs 4,062.87 crore, up 10.54 per cent in the December quarter of FY24.
Its total income in the December quarter was up 12.55 per cent to Rs 4,179.75 crore.
Over the outlook, UBL said despite some inflationary softening as seen from Q2, volatility will remain.
"We continue to focus on revenue management & cost initiatives, to drive margin accretion with plans to further step-up investment behind our brands and capabilities," it said.
Shares of United Breweries Ltd on Thursday settled at Rs 1,757.75 on BSE, down 1.78 per cent from previous close.