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United Breweries shares settle over 4% lower after Q3 loss

On Thursday, United Breweries Ltd (UBL) reported a consolidated net loss of Rs 1.81 crore in the third quarter ended December 31, 2022 on account of impairment of assets in Tamil Nadu and Andhra Pradesh, besides higher expenses.

February 10, 2023 / 20:01 IST
United Breweries stock fell 4.49 per cent to close at Rs 1,479.75 per share on the BSE. (Representative image)

Shares of United Breweries Ltd settled over 4 per cent lower on Friday after the beer maker reported net loss for the third quarter.

The stock of the firm fell 4.49 per cent to close at Rs 1,479.75 per share on the BSE. Similar movement was also seen on the NSE, where it declined 4.46 per cent to end at Rs 1,480.65 apiece.

On Thursday, United Breweries Ltd (UBL) reported a consolidated net loss of Rs 1.81 crore in the third quarter ended December 31, 2022 on account of impairment of assets in Tamil Nadu and Andhra Pradesh, besides higher expenses.

It had posted a consolidated net profit of Rs 91.02 crore in the same quarter last fiscal, the company said in a regulatory filing.

Consolidated total income during the quarter under review stood at Rs 3,713.54 crore as against Rs 3,517.98 crore in the year-ago period.

Total expenses were higher at Rs 3,675.28 crore as compared to Rs 3,394.4 crore in the corresponding quarter a year ago, it added.

The 30-share BSE Sensex benchmark closed 123.52 points or 0.20 per cent lower at 60,682.70 points on Friday.

PTI
first published: Feb 10, 2023 08:00 pm

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