United Breweries Reports Strong Q4 with ₹81.55 Crore Net Profit

8 May 2024 , 09:31 AM

For the March quarter of the financial year 2023–24, United Breweries recorded a consolidated net profit of ₹81.55 Crore, an eight-fold increase over the same period the previous year.

Revenue for the Kingfisher brewer increased 17.3% to ₹4,788.68 Crore, the business reported in a regulatory filing on May 7.

The company announced in an exchange filing that the Board of Directors of the Company has approved Mr. Jorn Kersten’s appointment as the Chief Financial Officer and Key Managerial Personnel of the Company, effective August 01, 2024, at its meeting.

EBIDTA, or earnings before interest, tax, depreciation, and amortization, came to ₹142.9 Crore for the quarter. EBITDA margins are at 6.7%, up 370 basis points year over year.

In light of solid financial performance, the board recommended a dividend of ₹10 per share, up from ₹7.5 per share the previous year.

Volume increased by 10.9% in Q4 with the South and East areas leading the way. The premium segment experienced a notable 21% growth, mostly due to the impressive performance of Kingfisher Ultra and Kingfisher Ultra Max.

In honor of International Women’s Day and London Pilsner Strong Beer in Karnataka, the firm also introduced Queenfisher. While the gross profit margin for the entire year was somewhat lower than the prior year, Q4 saw growth.

United Breweries is making investments in cost containment and brand development. The year’s capex spending came to a total of ₹190 Crore, mostly for supply chain expansion in the future.

In the long run, the company is positive about the industry’s development potential due to premiumization trends, favorable demographics, and increased disposable income, even though inflationary pressures may continue.

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