 "United Breweries")
United Breweries Ltd on Tuesday reported a more than five-fold jump in net profit to Rs 80.15 crore for the January-March period of 2023-24 compared to the year-ago period.
The beverages maker had reported a net profit of Rs 13.05 crore for the April-March quarter of 2022-23, according to an exchange filing.
Revenue from operations rose 17 per cent to Rs 4,788.68 crore in the last quarter of FY24 compared to Rs 4,081.01 crore in the year-ago quarter.
Total expenses rose to Rs 4,705.38 crore in the quarter under review from Rs 4,079.32 crore in the year-ago period.
Net profit for the full fiscal year ended on March 31, 2024, rose 33 per cent to Rs 412.59 crore compared to Rs 308.10 crore in the previous year.
Total income rose 10.49 per cent to Rs 18,453.27 crore in FY24 compared to Rs 16,700.52 crore in the previous year, the filing stated.
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The board of the company also recommended a final dividend of Rs 10 per share (1,000 per cent) of the face value of Re 1 for the 2023-24 financial year. The dividend, if approved by shareholders, will be paid on or before August 30, 2024, the filing stated.
United Breweries shares closed 0.96 per cent at Rs 2,001.75 per share on BSE.
"Volume in Q4 increased 10.9 per cent predominantly driven by South and East regions," United Breweries said in a statement.
The premium segment grew 21 per cent in the quarter. Within the segment, the company saw strong growth for Kingfisher Ultra & Kingfisher Ultra Max and it continued to drive premium volume growth.
"We continue to invest behind our brands & capabilities in combination with revenue management and cost initiatives. Investments in capex during the year were Rs 190 crore, primarily in supply chain initiatives to cater for future growth," the company said.
"Despite some inflationary softening as seen from Q2, volatility will remain. We remain optimistic about the long-term growth potential of the industry, driven by increasing disposable income, favourable demographics & premiumisation," it added.
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