United Breweries Q1 net dips 7% to Rs 71 cr

UB Group firm United Breweries today said its net profit declined by 6.68% to Rs 71.04 crore for the first quarter ended June 30.

The company had posted a net profit of Rs 76.13 crore in the same period last financial year, United Breweries said in a filing to the Bombay Stock Exchange (BSE).

The company's net sales rose to Rs 943.79 crore for the first quarter ended June 30, 2011 as against Rs 767.16 crore in the same period previous fiscal.

"Sales volumes in the markets of Andhra Pradesh, Rajasthan, Uttar Pradesh, Goa and Karnataka showed good growth during the quarter, while performance in markets such as Punjab, Bihar, West Bengal, Delhi and Tamil Nadu was impacted," the company said.

The company said it had started brewing and bottling of Heineken beer at its Taloja brewery.

"We have commenced the brewing and bottling of Heineken Lager beer at our brewery in Taloja near Mumbai. Heineken will be positioned in the super premium lager beer and will target discerning beer drinker in India," it said.

In 2009, UB Group and Heineken, the Dutch brewer had agreed to produce and market its world-renowned beer, 'Heineken', only through UBL.

Shares of United Breweries today closed at Rs 475.50 on the BSE, up 0.32% from previous close.