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United Breweries (UBL) hit a record high of Rs 1,243, up 9.5% on BSE in intra-day trade, after the company said on a year to date basis, volume grew 6% compared with industry growth of 3%. The company gained market share in its important markets including Rajasthan, Karnataka, Orissa and West Bengal. Furthermore, UBL showed strong growth and outperformed the beer market in Andhra Pradesh and Telangana. Also in Tamil Nadu, volume growth exceeded the market, given the company’s absence in the state in the same quarter last year, it added. UBL reported a 2.28% decline in its standalone net profit to Rs 474 million for the third quarter ended December on account of higher expenses.
The company had posted a net profit of Rs 485 crore during the same period previous fiscal. Total income during the quarter under review stood at Rs 26.09 billion as compared to Rs 22.61 billion in the October-December quarter previous fiscal. At 01:05 PM; the stock was trading 3% higher at Rs 1,169 on BSE as compared to 0.62% decline in the S&P BSE Sensex. A combined 1.42 million shares changed hands on the counter on BSE and NSE so far.