Carlsberg India Reports Record Revenue Of Rs 8,044.9 Crore, Profit Up Over 60% In FY24
Carlsberg India also noted that the beer industry continued to witness strong volume growth during the financial year.
Brewer Carlsberg India reported a 60.5% surge in profit to Rs 323.1 crore for fiscal 2023-24, according to its RoC filing. The company's total income rose 15.2% to Rs 8,044.9 crore for the financial year ending March 31, 2024, as per financial data accessed through the business intelligence platform Tofler.
Marking a significant milestone, Carlsberg India’s revenue surpassed Rs 8,000 crore, bringing it close to $1 billion in sales. The company stated that the Rs 323 crore profit under its standalone financial statement has been carried forward to 'Reserve and Surplus,' including other comprehensive income in the balance sheet.
Carlsberg India also noted that the beer industry continued to witness strong volume growth during the financial year.
"Cash and bank balances increased from Rs 9,304 million to Rs 11,165 million with strong business performance, better trade working capital, and lower capital investment," it said.
Carlsberg India Pvt. Ltd. had reported a total profit of Rs 201.3 crore a year before in fiscal 2022-23, and its revenue from operations was at Rs 6,937 crore on a standalone basis.
Its 'Excise duty expense' in fiscal 2023-24 was at Rs 4,877.8 crore, up 13.4%. This was at Rs 4,301.6 crore a year before in fiscal 2022-23.
Advertising promotional expenses of Carlsberg India were at Rs 96.5 crore in fiscal 2023-24, and total expenses stood at Rs 7,628.3 crore, up 13.4%.
While the market share from the data from the corporation states declined to 13.3%, from 14.9% in the fiscal year 2023-24, Carlsberg India continues to hold the number three position in the Indian beer market.
Carlsberg India is the subsidiary of Singapore-based South Asian Breweries Pte Ltd, owned by Danish brewing major Carlsberg.
Carlsberg competes in the Indian beer industry with Heineken-owned United Breweries Ltd. and AB InBev. These three companies account for 85% of the beer sold in India.
(With inputs from PTI.)
