United Breweries Q2 Profit Up 23.5%, Revenue Rises 13%

New Delhi, Oct 24 (PTI) Beer maker United Breweries Ltd on Thursday reported an increase of 23.47 per cent in consolidated net profit at Rs 132.33 crore in the second quarter ended September 30, 2024, on better volumes.

The company, controlled by Dutch multinational brewing company Heineken NV, had posted a net profit of Rs 107.17 crore in the July-September quarter a year ago, United Breweries Ltd (UBL) said in a regulatory filing.

UBL's revenue from operations was up 13.13 per cent to Rs 4,743.56 crore during the quarter under review. It was at Rs 4,192.86 crore in the corresponding period a year ago.

"Total volume increased 5 per cent in Q2 despite unfavourable weather in the quarter, and predominantly driven by North and West regions," said UBL in its earnings statement.

The gross profit grew 13 per cent "fueling a 26 per cent increase in EBIT and funding significant investments in our brands and organizational capabilities," it added.

The premium segment volume grew 27 per cent, led by strong growth from Kingfisher Ultra, Kingfisher Ultra Max, and Heineken Silver.

Total expenses of UBL were at Rs 4,575.68 crore, up 12.67 per cent in the September quarter of FY25. Its total income in the September quarter was up 13.05 per cent to Rs 4,753.96 crore.

During the quarter, the investments in capex were Rs 51 crore, focused on commercial & supply chain initiatives, it added.

Over the outlook, UBL said: "We remain optimistic about the industry's long-term growth potential, driven by increasing disposable income, favourable demographics & premiumisation."

Shares of United Breweries Ltd on Thursday settled at Rs 1,982.60 on BSE, down 0.46 per cent from the previous close.