Share price of the largest beer manufacturing company in India, moved up by nearly 1.63% to Rs. 1,682.3 in the trading session of Thursday, compared to its previous close of Rs. 1,655.25, after the company announced the launch of a new beer brand in Karnataka.
With a market capitalisation of Rs. 44,474.3 crores, at 01:15 p.m. the shares of United Breweries Ltd. were trading in the green at Rs. 1,678.55 on BSE, up by 1.41 percent.
In the last one year, the company has delivered positive returns of about 14.8 percent and more than 10.8 percent of returns in the last six months. So far in 2024, it has given negative returns of around 6.16 percent.
According to recent regulatory filings with the stock exchanges, United Breweries has announced the launch of a new brand, ‘London Pilsner Strong Beer’ in the strong beer segment category, in the state of Karnataka.
London Pilsner beer is brewed with European hops and subjected to a week-long ageing process at sub-zero temperatures.
This beer is priced at Rs. 120 per 650ml bottle and will be available at major outlets across Karnataka, the second market after Maharashtra where London Pilsner will be available.
In terms of financials, the revenue from operations of the company reduced by nearly 3.5 percent QoQ from Rs. 1,890 crore in Q2 FY23-24 to Rs. 1,824 crore in Q3 FY23-24.
The net profit of the company decreased by 19.62 percent QoQ, from Rs. 107 crore in Q2 FY23-24 to Rs. 86 crore in Q3 FY23-24.
United Breweries Ltd, part of the HEINEKEN group, is the largest beer manufacturer in India.
The company produces and markets packaged drinking water and soda, as well as beer and non-alcoholic beverages.
Written by Shivani Singh
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