United Breweries has dipped 5% to Rs 744, extending its Friday’s nearly 5% fall, after reporting a loss of Rs 18.57 crore for the quarter ended September 30, 2013 (Q2) due to lower sales and higher sales promotion costs. The maker of Kingfisher beer had profit of Rs 34.20 crore in the year-ago period.
The company’s total income from operations fell 1.5% year-on-year at Rs 845 crore due to the extended and heavy rains, price increases and continued market share losses in Tamil Nadu.
During the first half of the year the industry remained flat with Tamil Nadu losing 20% of its volumes on account of higher end-consumer prices and the unfavorable ordering pattern of TASMAC, which also affected the company’s volumes in the state, United Breweries said in a statement.
The stock opened at Rs 785 and touched a low of Rs 742 on the BSE. A combined 585,439 shares have changed hands on the counter till late noon deals on BSE and NSE.
The company’s total income from operations fell 1.5% year-on-year at Rs 845 crore due to the extended and heavy rains, price increases and continued market share losses in Tamil Nadu.
During the first half of the year the industry remained flat with Tamil Nadu losing 20% of its volumes on account of higher end-consumer prices and the unfavorable ordering pattern of TASMAC, which also affected the company’s volumes in the state, United Breweries said in a statement.
The stock opened at Rs 785 and touched a low of Rs 742 on the BSE. A combined 585,439 shares have changed hands on the counter till late noon deals on BSE and NSE.
