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May, 18 2017

​Brewers report 13% decline in profit for quarter ended in March 2017

Kingfisher-maker posted profit of Rs 6.7 crore from Rs 52 crore in the corresponding quarter. Revenue for the same period grew by 2.7 per cent to Rs 2562 crore.

India's largest brewer, United Breweries has reported a 87 per cent decline in profit for the quarter ended in March 2017 from a year ago on the back of shutdown of Bihar operations, destocking by liquor by retailers due to highway ban anticipation and increase in duty fee.

Kingfisher-maker posted profit of Rs 6.7 crore from Rs 52 crore in the corresponding quarter. Revenue for the same period grew by 2.7 per cent to Rs 2562 crore.

In a BSE filing, the company said, "The Supreme Court order directing all outlets within 500 meters to close from the 1st of April has had a significant impact on the industry in quarter 4. The industry saw a decline of about 13 per cent. We expect the impact of this ban to be most significant in the first two quarters of this fiscal year."

The company said in a separate filing that brewing operations at its manufacturing unit in Bihar have been discontinued due to prohibition of alcohol in the state.

Industry volume growth slipped by 5%, whereas UBL saw a 2.5% decline in volume.

United Breweries, which has 52 per cent market share, recently launched strong beer Kingfisher Storm and has plans to launch about half a dozen international brands to boost the declining market.

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