United Breweries declined 5.16% to Rs 1967.30 after the company decided to suspend the supply of its beer to Telangana Beverages Corporation (TGBCL) due to pricing issues and unpaid dues.
The company has decided to halt the beer supply because TGBCL has not revised the basic price of the companys beer since 2019-20, resulting in huge losses in the state and significant overdues remaining unpaid by TGBCL for the past supply of beer.United Breweries, controlled by Dutch multinational company Heineken NV, is primarily engaged in the manufacture, purchase, and sale of beer and non-alcoholic beverages.
The companys consolidated net profit jumped 23.2% YoY to Rs 132.17 crore in Q2 FY25. Net sales (excluding excise duty) increased 12% YoY to Rs 2,116.72 crore during the quarter.
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