United Breweries declares dividend of ₹10, net profit zooms 8-fold to ₹82 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Beer maker United Breweries Ltd on Tuesday (May 7) reported an eight-fold jump in net profit at ₹81.6 crore for the fourth quarter that ended March 31, 2024,

In the corresponding quarter, United Breweries posted a net profit of ₹9.9 crore, the company said in a regulatory filing. CNBC-TV18 poll had predicted a profit of ₹114 crore for the quarter under review.

The company’s revenue from operations increased 20.8% to ₹2,133.4 crore as against ₹1,765.9 crore in the corresponding period of the preceding fiscal. CNBC-TV18 poll had predicted revenue of ₹1,986 crore for the quarter under review.

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At the operating level, EBITDA stood at ₹142.9 crore in the fourth quarter of this fiscal over ₹53.6 crore in the corresponding period in the previous fiscal. CNBC-TV18 poll had predicted an EBITDA of ₹190 crore for the quarter under review.

EBITDA margin stood at 6.7% in the reporting quarter as compared to 3% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. CNBC-TV18 poll had predicted a margin of 9.5% for the quarter under review.

The board has recommended a final dividend of ₹10 per equity share of the face value of ₹1 each (1000%) for the financial year ending March 31, 2024, subject to the approval of the shareholders of the company at the ensuing AGM. Accordingly, the dividend, if approved by the shareholders, will be paid on or before August 30, 2024.

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The results came after the close of the market hours. Shares of United Breweries Ltd ended at ₹2,001.75, up by ₹19.05, or 0.96% on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow