Bangalore: United Breweries Ltd, the beer-making arm of Vijay Mallya led UB Group, on Thursday reported an 82.5% drop in net profit to Rs 7 crore in the quarter ended March from a year earlier, hit by increased input prices and a one-time cost.
The Rs 20 crore exceptional item was on account of a provision for diminution of investment. Net sales at India’s top beer maker rose 32% to Rs 1,011 crore from the year-ago period.
For the full year, profit fell 14.2% to Rs 91 crore while sales rose 20% to Rs 3,586 crore.
Shares of United Breweries Ltd were trading down 2.03% at Rs 460.10 at 1 pm on the Bombay Stock Exchange. The benchmark Sensex was 0.93% down at 16,159.95 points.