Latest News | UBL's Volume Grows in Mid-single Digits in March Quarter

New Delhi, Apr 16 (PTI) Dutch brewing company Heineken NV on Wednesday said its sales volume in India rose by a "mid-single-digit", lagging the market growth due to a temporary halt of supply in one of the major states.

Organic net revenue grew in low teens, Heineken NV, which owns India's leading brewing company UBL, said in its global results.

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“In India, organic net revenue (beia) grew in the low-teens as beer volume grew by a mid-single-digit. We slightly lagged the market growth as supply in one of the major states was temporarily halted to ensure a sustainable business model for the future," said Heineken NV.

The company, as per its strategy, is unlocking the potential of the premium segment, which in the quarter grew in the twenties, led by Heineken Silver, Kingfisher Ultra, and Kingfisher Ultra Max.

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Globally, during the quarter, Heineken's "Premium beer volume increased organically by 1.8 per cent outperforming the total beer portfolio, led by Vietnam, India, Nigeria, Romania, and Brazil”.

While mainstream beer volume remained stable in the quarter, key brands in major markets delivered strong growth.

"Larue led our rapid mainstream category expansion in Vietnam, while Kingfisher solidified its position as India's leading brand," it said.

In July 2021, Heineken NV acquired control of United Breweries Limited (UBL) in India, taking its shareholding to 61.5 per cent. It had acquired Mallya's 15 per cent stake in UBL for Rs 5,825 crores from the Debt Recovery Tribunal and became a majority shareholder of UBL.

(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)