India: Mallaya United Breweries jumps over 235 per cent net profit

Vijay Mallaya-promoted United Breweries Limited on June 25th said its net profit during the year ended March 31 jumped over 235 per cent to Rs 65.09 crore, compared to Rs 19.4 crore in the previous year, according to The Times of India. Earning per share increased from Rs 0.47 per share to Rs 2.62 during the fiscal.

The company also achieved the market capitalisation of 1.7 billion dollars during the same period.

Kingfisher, the flagship brand of the company continues to command a 35 per cent market share in total beer market in India, the company said in a release.

However, fourth quarter of 2006-07 fiscal proved to be a very demanding period for the company as it has to face a debilitating regulatory issue in Andhra Pradesh, which resulted in a loss of production and sales for six weeks at its Hyderabad brewery.

The Board of directors at its meeting held on Monday have recommended payment of additional dividend of 10 per cent making a total dividend payout of 25 per cent for the year end March 31.

The company has also paid a dividend of 3 per cent amounting to Rs. 8.45 crore (inclusive of distribution tax) to Scottish and Newcastle India Limited on Cumulative Redeemable Preference Shares held by it.

Board of director has also recommended a payment of final dividend of 10 per cent amounting to Rs 2.53 crore (inclusive of distribution tax), making the total dividend payout of 25 per cent for the financial year 2006-07, the company said.