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Beer major United Breweries has posted an 18.86 per cent increase in net profit to ₹127.19 crore for the third quarter on the back of a sharp recovery in volumes.
In a statement, United Breweries said its total income for the quarter decreased 5.74 per cent to ₹3,070.56 crore. All regions barring North recorded strong growth compared to the previous quarter with all India sequential growth posting 37 per cent.
With most markets showing a recovery in Q3, volumes were at 85 per cent of the previous year, helped by the doubling of volume in West Bengal, growth in the markets of Uttaranchal, Madhya Pradesh, Jharkhand, North East, Karnataka, Haryana and Himachal Pradesh. Tamil Nadu and Rest of Maharashtra remained flat.
The statement said the strong segment registered a quicker recovery when compared to the mild. The gross margin during the quarter was higher by 119 bps as compared to the previous year due to a positive State mix on account of the faster recovery in higher contributing markets and benign input costs.
Higher liquidity resulting from cost control, working capital management and recalibrated capex resulted in the net positive cash position of ₹97 crore December quarter-end.
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