United Breweries stock falls 5% after dismal December quarter numbers

UBL said due to a change in operating models in these states on account of a post-integration review undertaken by Heineken, there has been a volume decline, which resulted in lower cash inflows due to reduction in revenue.

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Stocks of United Breweries declined over 5 percent intraday on February 10, a day after the company declared its December quarter earnings.

The beer maker on February 9 reported a consolidated net loss of Rs 1.81 crore in the third quarter ended December 31, 2022, on account of the impairment of assets in Tamil Nadu and Andhra Pradesh besides higher expenses.

The company posted a consolidated net profit of Rs 91.02 crore in the same quarter last financial year, United Breweries Ltd (UBL) said in a regulatory filing.

Its consolidated total income during the quarter under review stood at Rs 3,713.54 crore against Rs 3,517.98 crore in the year-ago period, it added. Total expenses were higher at Rs 3,675.28 crore compared to Rs 3,394.4 crore in the corresponding quarter a year ago, the company said.