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United Breweries Q1: Kingfisher beer maker's net profit down 16% to ₹136 crore on high excise duty, revenue down 6%
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United Breweries Q1 Results: Beer maker United Breweries announced its April-June quarter results for fiscal 2023-24 (Q1FY24), reporting a decline of around 16 per cent in consolidated net profit at ₹136 crore, compared to ₹161.8 crore in the corresponding period last year. Overall profit was dragged by higher excise duty and company costs during the quarter-under-review.
The Kingfisher beer maker's net revenue from operations during the first quarter of current fiscal stood at ₹2,274.8 crore, reporting a decline of 6.7 per cent, compared to ₹2,438.7 crore in the year-ago period. Earlier this year, the brewer had flagged that margin pressures will persist in the first quarter amid sticky inflation.
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