• First-half net profits up by 46.7% to INR1.33bn (US$24.1m)
  • H1 net sales rise by 24% to INR21bn
  • Operating profits jump by 46.7% to INR1.99bn
  • Q2 volumes up by 2%

     

United Breweries has seen a boost in volumes in its key Indian markets

United Breweries has seen a boost in volumes in its key Indian markets

Double-digit volume growth in key markets has helped United Breweries report strong rises in first-half profits and sales. 

Net profits in the six months to the end of September jumped by 46.7% to INR1.33bn (US$24.1m), the Vijay Mallya-controlled brewer said late last week. Sales in the period rose by 24% to INR21bn. 

Operating profits in the six months also increased by 46.7% to INR1.99bn. 

In Q2, the brewer, which is 37.5%-owned by Heineken, saw net profits leap 75.2% to INR342m. Sales in the three months increased by 18% to INR8.7bn, while operating profits were up by 74.4% at INR512m. 

The company, part of the UB Group, said it grew overall volumes by 2% in the quarter and saw double-digit volume lifts  in “key markets” such Maharashtra, Karnataka, Rajasthan, Kerala, Bihar and Uttar Pradesh. 

“The strong beer segment continues to drive overall volumes, with a growth of 10%, while mild beer volumes declined in line with the market by 4%,” it said in a statement. 

The company's sister firm, United Spirits, is set to become majority-owned by Diageo after it was announced last week that Mallya and the UK-headquartered group have agreed a deal