United Breweries' revenue in March quarter up y-o-y by 20%

25 Apr 2024 , 10:34 AM

United Breweries shares rose 10% on April 24 after the beer firm reported a 20% increase in revenue for the January-March quarter.

“In India, net revenue grew by 20% organically, driven by volume and a positive price mix,” the beer firm reported in its Q4FY24 statement.

The company’s volumes increased in the low teens, with the premium portfolio growing in the low 20s, driven by Kingfisher Ultra and Heineken Silver.

On March 8, International Women’s Day, the firm released a new beer called Queenfisher. Beer volumes at Heniken NV increased by 4.7%, while premium beer volumes increased by 7.3%.

Heniken NV stated in a press release that the organic growth of beer volume rose by 4.7 percent, showing improvement across all regions. This growth was supported by various factors including calendar effects and one-time occurrences. Specifically, the Americas and Europe experienced growth due to the earlier timing of Easter, while the Africa and Middle East, as well as Asia Pacific regions, saw improvement from a favorable comparison to the previous year, influenced by specific events in Vietnam and Nigeria.

United Breweries (UBL), part of the Heineken group, is India’s largest beer manufacturer. The company manufactures and promotes bottled drinking water and soda, as well as internationally known beer and non-alcoholic beverages.

Its varied range of products includes names like Kingfisher Strong, Kingfisher Premium, Kingfisher Ultra, Kingfisher Ultra Max, Heineken Silver, Kingfisher Storm, Heineken, Amstel, Kingfisher Ultra Witbier, and Heineken 0.0. Additionally, it offers Kingfisher Premium Water and Kingfisher Soda.

At around 10.31 AM, United Breweries was trading 1.41% higher at ₹2,059.60 per piece, against the previous close of ₹2,030.95 on NSE. The counter touched an intraday high and low of ₹2,106, and ₹2,020.05, respectively.

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