United Breweries Q3 net marginally down to Rs 28.62 crore

NEW DELHI: United Breweries Ltd (UBL) on Tuesday posted a marginal decline in its net profit for the third quarter ended December 31, 2011 at 28.62 crore compared to the corresponding quarter last fiscal. The company's net profit during the three months ended December 31, 2010 was 29.82 crore, it said in a filing to the BSE.

The firm's net sales for the quarter under review increased by 57.64% to 961.06 crore, as against 609.62 crore, it added.

During the quarter under review the firm completed mergers of United Millennium Breweries Ltd (UMBL), Millennium Beer Industries Ltd (MBIL), UB Nizam Breweries Pvt Ltd (UBN) and Chennai Breweries Pvt Ltd (CBPL) with UBL, it said.

In a separate filing the company said it will merge Scottish & Newcastle India Pvt Ltd (SNPIL) into itself.

As consideration for amalgamation, over 84.89 lakh fully paid equity shares of UBL of Re 1 will be issued for over 3.22 crore fully paid equity shares of SNIPL of 10 each, UBL said in a filing to the BSE. United Breweries' scrips closed at 455.55 per share, up 0.14% from the previous close on the BSE.