United Breweries Ltd (UBL) on Tuesday posted a marginal decline in net profit for the third quarter ended December 31, at Rs 28.6 crore, compared to the corresponding quarter last financial year.
Net profit during the three months ended December 31, was Rs 29.8 crore, it said in a filing to the Bombay Stock Exchange. Net sales for the quarter under review increased 57.6 per cent to Rs 961 crore, as against Rs 610 crore, it added.
During the quarter, the firm completed mergers of United Millennium Brewe-ries Ltd, Millennium Beer Industries Ltd, UB Nizam Breweries Pvt Ltd and Chennai Breweries Pvt Ltd with UBL, it said. In a separate filing, the company said it would merge Scottish & Newcastle India Pvt Ltd (SNPIL) into itself.
As consideration for amalgamation, over 84.89 lakh fully paid equity shares of UBL of Rs 1 will be issued for over 3.22 crore fully paid equity shares of SNIPL of Rs 10 each, UBL said in a filing to the BSE.
United Breweries’ scrips closed at Rs 455.55 per share, up 0.14 per cent from the previous close on the BSE.
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