Latest News | BIZ-RESULTS-UNITED BREWERIES United Breweries Q4 Net Profit Down 39.3 Pc to Rs 42 Cr
Get latest articles and stories on Latest News at LatestLY. United Breweries Ltd (UBL) on Wednesday reported a 39.27 per cent decline in its consolidated net profit to Rs 41.82 crore for the fourth quarter ended March 2020.
New Delhi, Jun 24 (PTI) United Breweries Ltd (UBL) on Wednesday reported a 39.27 per cent decline in its consolidated net profit to Rs 41.82 crore for the fourth quarter ended March 2020.
The company had posted a net profit of Rs 68.87 crore during the January-March quarter of the previous financial year, UBL said in a regulatory filing.
Its revenue from operations was down 10.40 per cent to Rs 3,099.91 crore during the March 2020 quarter, against Rs 3,459.73 crore in the corresponding period of the previous financial year.
"COVID-19 impacted performance in the March 2020 quarter," said UBL in a post-earning statement.
UBL's total expenses were at Rs 3,045.08 crore in the fourth quarter of 2019-20, down 20.48 per cent as against Rs 3,363.07 crore.
Its revenue from the beer segment was at Rs 3,095.25 crore and Rs 4.66 crore from non-alcoholic beverages during the quarter.
For the financial year 2019-20, UBL's net profit was down 23.96 per cent to Rs 428.29 crore. It was Rs 563.31 crore in the previous year.
"The full-year performance was negatively impacted by elections in Q1 (first quarter), overall economic slowdown, unfavourable policy changes in Andhra Pradesh and input cost increase," said UBL.
However, its revenue from operations in the financial year 2019-20 was Rs 14,651.15 crore, up 3.61 per cent. It was Rs 14,139.82 crore in 2018-19.
Shares of United Breweries Ltd on Wednesday settled at Rs 1,051.90 on the BSE, down 0.88 per cent from the previous close.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)