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| Mallya's UB Q1 net up 57% Y-o-Y |
| BS Reporter / Bangalore Jul 25, 2009, 00:53 IST |
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United Breweries (UBL), the country’s largest, controlled by billionaire Vijay Mallya, has posted a strong 57 per cent increase in net profit at Rs 35.5 crore for the first quarter of the current fiscal, compared with the year-ago period.
Net sales, at Rs 556.4 crore, were up 17 per cent, powered by a 25 per cent growth in strong beer. According to a statement from UBL, its market share grew by 3 per cent and overall national share, excluding Andhra Pradesh, stood at 51 per cent.
In Andhra Pradesh, UBL — along with SAB Miller — was restrained from supplying to the market as a decision on the matter of price increase is currently pending in the High Court, as the state government has not been allowing price increases.
Operating profits grew 30 per cent on the back of selective price increases and aggressive cost control.
The company has plans to expand capacities in all key markets. The acquisition of land for the new unit in Karnataka is complete. Another new unit is coming up in AP. The company is on track to increase its brewing capacity by 20 per cent to 71.50 lakh hectolitres (100 litres is a hl) per annum in the next two years
The new AP unit will have an initial yearly capacity of 60 lakh cases (12 bottles in a case), to be later doubled.
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