United Breweries has dipped 5% to Rs 744, extending its Friday’s nearly 5% fall, after reporting a loss of Rs 18.57 crore for the quarter ended September 30, 2013 (Q2) due to lower sales and higher sales promotion costs. The maker of Kingfisher beer had profit of Rs 34.20 crore in the year-ago period.
The company’s total income from operations fell 1.5% year-on-year at Rs 845 crore due to the extended and heavy rains, price increases and continued market share losses in Tamil Nadu.
During the first half of the year the industry remained flat with Tamil Nadu losing 20% of its volumes on account of higher end-consumer prices and the unfavorable ordering pattern of TASMAC, which also affected the company’s volumes in the state, United Breweries said in a statement.
The stock opened at Rs 785 and touched a low of Rs 742 on the BSE. A combined 585,439 shares have changed hands on the counter till late noon deals on BSE and NSE.
The company’s total income from operations fell 1.5% year-on-year at Rs 845 crore due to the extended and heavy rains, price increases and continued market share losses in Tamil Nadu.
During the first half of the year the industry remained flat with Tamil Nadu losing 20% of its volumes on account of higher end-consumer prices and the unfavorable ordering pattern of TASMAC, which also affected the company’s volumes in the state, United Breweries said in a statement.
The stock opened at Rs 785 and touched a low of Rs 742 on the BSE. A combined 585,439 shares have changed hands on the counter till late noon deals on BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%