Shares of United Breweries Ltd. declined after its net profit plunged 94% in the fourth quarter ended March.
The company's fourth-quarter consolidated net profit slumped 94% to Rs 9.81 crore, according to an exchange filing. Bloomberg had estimated a quarterly profit of Rs 126.3 crore in January-March. Meanwhile, revenue gained 3.32% to Rs 1,765.88 crore.
United Breweries Q4 FY23 (Consolidated, YoY)
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Revenues are up 3.32% at Rs 1,765.9 crore (Bloomberg estimate: Rs 1,702.6 crore).
Ebitda is down 79.49% at Rs 53.6 crore (Bloomberg estimate: Rs 192.5 crore).
Ebitda margin at 3.04% vs. 15.3% (Bloomberg estimate: 11.3%)
Net profit is down 94% at Rs 9.81 crore (Bloomberg estimate: Rs 126.3 crore).
The board approved a dividend of Rs 7.50 per share for the financial year 2022–23.
Shares of the company declined 2.2% to close at Rs 1,398.65, compared to a 1.02% decline in the benchmark Nifty 50.
Of the 12 analysts tracking the stock, six maintain a 'buy', two suggest a 'hold', and one recommends a 'sell', according to Cogencis data. The remaining three analysts kept a neutral stance between 'buy' and 'hold.'
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