United Breweries’ Q4 Net Profit Rises More Than Elevenfold

Vijay Mallya-led United Breweries reported more than elevenfold rise in net profit to Rs 67.71 crore in the last quarter of FY2013-14.

The company had reported a net profit of Rs 5.85 crore during the corresponding period of FY2012-13.

For FY2013-14, the company reported a net profit of Rs 226.02 crore as compared to Rs 172.11 crore in the previous fiscal (2012-13).

"The fourth quarter performance was in line with expectations and similar to that in the previous quarter," the company said.

“The positive development in revenue has been partly driven by price increases and partly through optimisation of sales mix,” it added.

The Bangalore-based firm, which markets various beer brands, including Kingfisher and Zingaro, said its board has approved to acquire assets of Pacific Spirits for Rs 105 crore.

The brewery is located at Shahjahanpur in Rajasthan. The acquisition is subject to due diligence and securing necessary approvals, United Breweries added.

"The parties are in the process of completing various formalities for issue of statutory licenses and permissions in the name of United Breweries Ltd. Upon receipt of necessary approvals and completion of due diligence, requisite documents for sale of brewery assets shall be registered," it said.