United Breweries Q4 results: Net profit drops by 39.35%
Bengaluru: To begin with, on Wednesday, United Breweries Ltd. had posted its Q4 net profit drop of 39.35% at Rs. 41.19 crores. Certainly, the loss for the March quarter took an account of the COVID-19 disruption. As well as policy changes in Andhra Pradesh and also the input cost increase.
Besides, the maker of Kingfisher posted a 10.65% dip in its net sales in the second quarter at Rs. 3,099.58 crores.
On the other side, the Heineken-controlled UB stated the price hike in the markets of Karnataka, Maharashtra, Rajasthan, and Goa helped. Also, the offset increase in the price of barley and new glass bottles resulted in less than a 2% reduction in the gross margin. However, in Q4, the gross margin rose marginally due to higher sales of premium products and stable input costs.
Significantly, the premium brands of the company have registered double-digit growth despite the challenging year. Consequently, key markets such as Rajasthan and Andhra Pradesh recorded volume drop.
On the other hand, the net debt of the brewer in a stock exchange filing stood at Rs. 217 crores.
Stock Market Update:
Stock Market June 26th: On Friday, both Sensex and Nifty seem to trade in a bullish trend at the stock market. The Sensex traded up with 35,171.27 levels and Nifty stood up with 10,383.00 levels. The Sensex gained 329.17 points with a 0.94% rise. So then, Nifty has gained 94.10 points with a 0.91% rise.
In the border market, the S&P BSE Midcap index reported a bullish trend in the stock market on June 26th. It gained 36.01 points with a 0.27% rise and reached a 13,258.44 level. The S&P BSE Smallcap index gained 24.14 points with a 0.19% increase and reached a 12,630.28 level. So then, Nifty Bank gained 85.90 points with a 0.40% rise and reached 21,592.05 level.
On the other hand, the number of confirmed COVID-19 cases in India reached 5,28,859 as of June 28th, and deaths reached 16,095.