United Breweries Ltd reported a 65% year-on-year dip in its net profit in the second quarter of the current financial year.
The company reported a consolidated bottom line of Rs 46.5 crore against Rs 132 crore in the previous fiscal, according to an exchange filing posted on Wednesday. Its revenue saw a decline of 3% to Rs 2,053 crore compared to Rs 2,117 crore in the year-ago period.
Its earnings before interest, taxes, depreciation and amortisation saw a drop of 43% to Rs 130 crore as opposed to Rs 227 crore in the preceding fiscal. The margin contracted to 6.3% from 10.7%.
United Breweries Q2 Highlights (Consolidated, YoY)
Revenue down 3% at Rs 2,053 crore versus Rs 2,117 crore.
Ebitda down 43% at Rs 130 crore versus Rs 227 crore.
Margin at 6.3% versus 10.7%.
Net profit down 64.8% to Rs 46.5 crore versus Rs 132 crore.
Shares of United Breweries closed 0.32% higher at Rs 1,155.90 apiece on the National Stock Exchange before the announcement, compared to a 0.45% fall in the benchmark Nifty. The stock has fallen 4.70% in the last 12 months and 9.66% on a year-to-date basis.
Out of 20 analysts tracking the company, six have a 'buy' rating on the stock, five recommend 'hold' and nine suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 8.9%.
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