United Breweries Q3 result: Profit doubles to ₹81.1 cr, revenue down 11%

The company, controlled by Dutch multinational brewing company Heineken NV, had posted a net profit of ₹38.52 crore in the October-December quarter a year ago

Beer maker United Breweries Ltd has reported a two-fold jump in consolidated net profit of Rs 81.15 crore in the December quarter of FY26 on a year-on-year basis, driven by growth in its premium portfolio and improved margins.

The company, controlled by Dutch multinational brewing company Heineken NV, had posted a net profit of Rs 38.52 crore in the October-December quarter a year ago, United Breweries Ltd (UBL) said in a regulatory filing on Tuesday.

However, UBL's revenue from operations was down 11.05 per cent to Rs 3,936.99 crore in the December quarter from Rs 4,426.55 crore in the corresponding period a year ago.

"Beer category in Q3, FY26 was impacted by a colder-than-usual winter. Overall, sell-in volume declined 1.3 per cent, resulting in 2.6 per cent growth in YTD-FY26," said UBL in its earnings presentations.

In the North, which included Rajasthan, Uttar Pradesh, Haryana, Delhi & Punjab, volumes declined 16 per cent in the quarter, while in East and South, volumes fell 2 per cent each. However, volume was up 20 per cent in the Western markets of Maharashtra, Madhya Pradesh, Chhattisgarh & Daman.

"Volume decline mainly driven by Telangana, Rajasthan & Karnataka, partially offset by Andhra Pradesh & Maharashtra," it said.

Its underlying price mix was positively impacted mainly by price increases in key states, including Telangana, Rajasthan & Uttar Pradesh.

UBL's net sales in Q3 were up 4 per cent, driven by premiumisation and positive price-mix, as the premium volumes grew ahead of the portfolio  "The gross profit margin in Q3 at 45.3 per cent is the highest in 3 years, driven by positive price mix, mainly from localisation of portfolio and operational excellence," it said.

Total expenses of UBLs were at Rs 3,797.06 crore, down 12.7 per cent in the December quarter of FY26.

Its total income in the December quarter was down 11.01 per cent to Rs 3,948.08 crore.

Over the outlook, UBL said, "We continue to focus on revenue management & cost initiatives, to drive margin accretion with continued investments behind our brands and capabilities."  Shares of United Breweries Ltd on Wednesday were trading at Rs 1,620.80 apiece on BSE, up 0.34 per cent from the previous close.