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United Breweries Q4 net profit drops sharply to Rs 6.73cr

Press Trust of India  |  New Delhi 

firm (UBL) today reported a significant fall in standalone net profit to Rs 6.73 crore during the fourth quarter of 2016-17 fiscal on higher expenses.

It had posted a net profit of 52.37 crore in the same quarter of previous fiscal, the company said in a filing.

Although the company's net on a standalone basis rose marginally during the period under review, its expenses remained higher compared to the year-ago period.

Net stood at Rs 2,562.03 crore in the last quarter of 2016-17, against Rs 2,494.48 crore in the same period of previous year.

Expenses jumped to Rs 2,554.41 crore from Rs 2,420.55 crore in the said period.

The Board has proposed dividend of Rs 1.15 per equity share of Rs one each amounting to Rs 36.60 crore for the 2016 -17 fiscal subject to the approval at the ensuing annual general meeting, the filing added.

For the full financial 2016-17 year, the company's net profit fell to Rs 229.92 crore on a consolidated basis from Rs 298.67 crore in the previous fiscal.

Net rose to Rs 10,281.51 crore during 2016-17 fiscal from Rs 9,727.83 crore in the previous year, while expenses remained higher at Rs 9,933.38 crore as against Rs 9,273.18 crore in the said period.

The company's shares closed at Rs 813.55 apiece on the today.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 17 2017. 22:07 IST