Latest News | United Breweries Shares Settle over 4 Pc Lower After Q3 Loss

New Delhi, Feb 10 (PTI) Shares of United Breweries Ltd settled over 4 per cent lower on Friday after the beer maker reported net loss for the third quarter.

The stock of the firm fell 4.49 per cent to close at Rs 1,479.75 per share on the BSE. Similar movement was also seen on the NSE, where it declined 4.46 per cent to end at Rs 1,480.65 apiece.

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On Thursday, United Breweries Ltd (UBL) reported a consolidated net loss of Rs 1.81 crore in the third quarter ended December 31, 2022 on account of impairment of assets in Tamil Nadu and Andhra Pradesh, besides higher expenses.

It had posted a consolidated net profit of Rs 91.02 crore in the same quarter last fiscal, the company said in a regulatory filing.

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Consolidated total income during the quarter under review stood at Rs 3,713.54 crore as against Rs 3,517.98 crore in the year-ago period.

Total expenses were higher at Rs 3,675.28 crore as compared to Rs 3,394.4 crore in the corresponding quarter a year ago, it added.

The 30-share BSE Sensex benchmark closed 123.52 points or 0.20 per cent lower at 60,682.70 points on Friday.

(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)