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India. United Breweries’ Q3 net up 40 pct

Vijay Mallya-controlled United Breweries Ltd said its net profit rose by 40.26 per cent to Rs 29.82 crore in the third quarter ended December 31, 2010, over the corresponding period a year ago.
The company had a net profit of Rs 21.26 crore in the same quarter last fiscal, United Breweries said in a filing with the Bombay Stock Exchange.
Net income of the company increased to Rs 609.62 crore in the quarter under review from Rs 442.11 crore during the same period previous year, it said.
For the nine-month period ended December 31, 2010, net profit jumped up to Rs 127.91 crore from Rs 68.44 crore in the same period previous year.
Net income rose to Rs 1939.19 crore in the nine-month period under review from Rs 1406.78 crore during the same period last fiscal.
In another regulatory filing, the company informed the BSE that the Scheme of Amalgamation of Associated Breweries and Distilleries Limited, Millennium Alcobev Private Limited and Empee Breweries Limited into United Breweries Limited has been approved by the respective High Courts of Karnataka and Madras.
The company is engaged in manufacture, purchase and sale of beer including licensing of brands, which constitute single business segment, it said
Shares of the company closed at Rs 378.30, up 2.51 per cent from the previous close on the BSE.

11 Feb. 2011

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