United Breweries Ltd, a renowned beer manufacturer, has reported a surge in net profit to INR 80.15 crore for the January-March quarter of 2023-24, marking a more than five-fold increase from the corresponding period last year. This performance contrasts with the net profit of INR 13.05 crore reported during the April-March quarter of 2022-23, as stated in an exchange filing.
Revenue from operations increased by 17 percent to INR 4,788.68 crore in the final quarter of FY24, compared to INR 4,081.01 crore in the same quarter of the previous year.
Total expenses climbed to INR 4,705.38 crore in the quarter under review, up from INR 4,079.32 crore in the corresponding period of the previous year.
The net profit for the complete fiscal year that ended on March 31, 2024, increased by 33 percent to INR 412.59 crore, compared to INR 308.10 crore in the preceding year.
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The filing stated that total income increased by 10.49 percent to INR 18,453.27 crore in FY24, compared to INR 16,700.52 crore in the previous year.
As per the filing, the company’s board also proposed a final dividend of INR 10 per share (1,000 percent) of the face value of INR 1 for the 2023-24 financial year. Subject to shareholders’ approval, the dividend is scheduled to be disbursed on or before August 30, 2024.
United Breweries shares concluded Tuesday’s trading session at Rs 2,001.75 per share on the BSE, marking a 0.96 percent increase.
“In Q4, volume surged by 10.9 percent, primarily propelled by the South and East regions,” stated United Breweries in a statement.
The premium segment experienced a 21 percent growth during the quarter, driven by robust performance of Kingfisher Ultra and Kingfisher Ultra Max, leading to continued expansion in premium volume for the company.
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The company asserted, “We remain committed to investing in our brands and capabilities alongside revenue management and cost-saving measures. Our capital expenditures for the year totaled INR 190 crore, primarily directed towards supply chain enhancements to accommodate future expansion.”
“Despite observing some inflationary softening starting from Q2, volatility is expected to persist. However, we maintain optimism regarding the industry’s long-term growth potential, fueled by rising disposable income, favorable demographics, and the trend towards premiumization,” it added.
