United Breweries (Holdings) net profit falls 75.8%
United Breweries (Holdings), the investment holding entity of the UB Group, posted 75.8% year-on-year decline in net profit.
By ET Bureau |
BANGALORE:United Breweries (Holdings), the investment holding entity of the UB Group, posted 75.8% year-on-year decline in net profit in the first quarter of the financial year at Rs 1.88 crore against Rs 7.77 crore. It paid higher interest of Rs 44.41 crore against Rs 11.22 crore in the comparable quarter.
The fall in net profit came despite a 21.24% rise in net sales to Rs 70.03 crore from Rs 57.76 crore in the year-ago period.
The company said it had begun development of a luxury residential building Kingfisher Towers in Bangalore. The entire shareholding of the company in Kingfisher Airlines had been pledged with the security trustee acting on behalf of consortium of lenders, the filing said. It also said that it had sold 15,552 sq ft of office space to a group company.
The company board appointed former United Spirits managing director V K Rekhi as a non independent / non-executive director. United Breweries (Holdings) stock closed at Rs 130 on the BSE, down 2% on Tuesday.
The fall in net profit came despite a 21.24% rise in net sales to Rs 70.03 crore from Rs 57.76 crore in the year-ago period.
The company said it had begun development of a luxury residential building Kingfisher Towers in Bangalore. The entire shareholding of the company in Kingfisher Airlines had been pledged with the security trustee acting on behalf of consortium of lenders, the filing said. It also said that it had sold 15,552 sq ft of office space to a group company.
The company board appointed former United Spirits managing director V K Rekhi as a non independent / non-executive director. United Breweries (Holdings) stock closed at Rs 130 on the BSE, down 2% on Tuesday.
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