United Breweries Q2 results: Net profit increases 23% to Rs 132 cr

United Breweries reported a rise in second-quarter profit on Thursday, driven by higher demand for its small, but fast-growing premium beers.

The Kingfisher beer manufacturer's standalone profit jumped 23 per cent to Rs 132 crore (nearly $16 million) for the three months to Sept. 30.

The brewer, which is majority-owned by Netherlands-based Heineken, reported a 13 per cent rise in quarterly revenue to Rs 4,742 crore.

KEY CONTEXT

Urban consumers with higher disposable incomes are looking to indulge in more premium alcohol, prompting companies to step up their offerings.

United Breweries' more premium beers, which include London Pilsner and Heineken Silver, have outpaced the growth of its cheaper beverages, helping boost its revenue and margins.

Rival Radico Khaitan also reported a higher second-quarter profit on increasing demand for premium alcohol.