UBL Q1 net profit jumps 37 pc to Rs 222 cr

United Breweries Ltd (UBL) today reported a 37.08 per cent jump in its standalone net profit to Rs 221.92 crore for the quarter ended June 30, helped by double-digit volume growth.

The company had posted a net profit of Rs 161.89 crore in the corresponding period a year-ago.

Its total income during the quarter under review stood at Rs 4,173.18 crore, up 9.24 per cent, as against Rs 3,820.18 crore in the corresponding quarter of the previous fiscal, UBL said in a regulatory filing.

"UBL started the year strongly, recording double digit volume and net revenue growth. The industry recorded volume growth in almost all key states," the company said in a statement.

"In Kerala and Maharashtra (excluding Mumbai) the market reversed the highway ban induced negative trend of the previous quarters. Following the new excise policy in Uttar Pradesh effective April 1, 2018, a large number of new wholesale licenses were granted, boosting industry growth," it added.

The company said, however, the market in West Bengal is still challenging, as market volumes remain impacted by the steep excise duty increase introduced in the fourth quarter.

Shares of United Breweries settled 0.20 per cent higher at Rs 1,200.25 apiece on the BSE.