United Breweries Ltd (UBL) reported a rise in second-quarter profit on October 24, driven by higher demand for its small, but fast-growing premium beers.
The Kingfisher beer manufacturer's standalone profit jumped 23% to Rs 132 crore for the three months to September 30.
The brewer, which is majority-owned by Netherlands-based Heineken, reported a 13% rise in quarterly revenue at Rs 4,742 crore.
Urban consumers with higher disposable incomes are looking to indulge in more premium alcohol, prompting companies to step up their offerings.
United Breweries' more premium beers, which include London Pilsner and Heineken Silver, have outpaced the growth of its cheaper beverages, helping boost its revenue and margins. On October 24, UBL's shares on BSE closed trading 0.6% lower at Rs 1,978.45 apiece.
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