08 November, 2019

India: United Breweries reports Q2 profit decline

United Breweries (UBL) on November 6 reported profit decline of 30% at Rs 115.13 crore for the quarter ended September, impacted by severe monsoons across parts of the country, cost pressures and overall slowdown in the economy, the Economic Times reported.

The maker of Kingfisher reported a 7.6% increase in net sales in the second quarter at Rs 3589.6 crore.

The Heineken-controlled UB said its strong beer volumes grew in high single digit while mild beer volume growth was flat. Key markets such as Karnataka, Telengana and the West recorded volume decline.

The brewer in a stock exchange filing said the industry was impacted by national elections in the first quarter, the second quarter was affected by unprecedented and excessive monsoons across India, coupled with slackness in the markets such as Karnataka and Maharashtra while hardening of input prices, resulted in a decline in gross margins.

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