United Breweries Holdings Q1 net down 99.7% at Rs 2.15-cr

Net sales of the company plunged by 41% to Rs 57.81 crore during the April-June quarter

United Breweries (Holdings) Ltd (UBHL) today reported a 99.73 per cent fall in its net profit at Rs 2.15 crore for the first quarter ended June 30, 2015 on account of lower sales and exceptional item reported in the corresponding period last year.

The company had posted a net profit of Rs 802.1 crore during the same period of the previous fiscal.

Net sales of the company plunged by 41.11 per cent to Rs 57.81 crore during the April-June quarter as against Rs 98.18 crore during the same period a year ago, United Breweries Holdings said in a filing to the BSE.

During the first quarter of 2014-15, the company reported exceptional gains of Rs 837.51 crore on sale of pledged shares.

UBHL's revenue from its alcoholic beverages segment declined by 52.73 per cent to Rs 24.22 crore during the quarter under review. It was Rs 51.24 crore during the first quarter of 2014-15.

Earnings from its leather segment during the quarter also declined by 47.91 per cent to Rs 8.37 crore as against Rs 16.07 crore in the same period of the previous fiscal.

Revenue from readymade garments segment during the April-June quarter went down by 82.17 per cent to Rs 2.29 crore as against Rs 12.85 crore in the year-ago period.

Shares of United Breweries Holdings were trading at Rs 22 per scrip on BSE in morning trade, down 3.3 per cent from its previous close.