 "United Breweries shares tank 5 pc as Q4 net drops sharply")
Shares of United Breweries Ltd fell almost 5 per cent on Thursday after the company reported a significant fall in standalone net profit at Rs 6.73 crore for the fourth quarter of 2016-17 financial year.
After making a weak opening, the stock further tanked 4.98 per cent to Rs 773 on BSE.
At NSE, shares of the company declined by 4.77 per cent to Rs 773.35.
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It had posted a net profit of Rs 52.37 crore in the same quarter of previous financial year, the company said in a BSE filing yesterday.
Although the company's net income on a standalone basis rose marginally during the period under review, its expenses remained higher compared to the year-ago period.
Net income stood at Rs 2,562.03 crore in the last quarter of 2016-17, against Rs 2,494.48 crore in the same period of previous year.
Expenses jumped to Rs 2,554.41 crore from Rs 2,420.55 crore in the said period.
