United Breweries net doubles

United Breweries, India’s largest beer marketer, has more than doubled its net profit to Rs 1.48 crore for the third quarter ended December 2008, as against Rs 68 lakh for the corresponding previous quarter. Topline of this UB Group company, which has 40 per cent of the Indian beer market, has increased by 24 per cent to Rs 373 crore for the third quarter.

Operating profits were up 60 per cent as it aggressively cut cost and selectively increased prices of its products.

“The period under review bore the brunt of cost-escalation with steep increases in all input costs including raw material, packaging material and power. Through a process of selective price increases and accelerated push to increase sales in profitable markets combined with various initiatives to contain costs, we managed to defend and improve operating margins,” a UB statement said.

 

United Spirits net dips 65%

United Spirits, the spirits arm of the United Breweries Group, has reported a 65 per cent decline in its third quarter net profit to Rs 30.5 crore compared with Rs 88.1 crore for the corresponding quarter in the last financial year.

The company attributed the decline in its net profit to a combination of global and local factors, including fuel prices and lower cane availability.