INDIA: UBL sees Q1 profits soar
India's largest beer maker United Breweries (UBL) today saw first-quarter net profit almost double.
UBL, brewer of Kingfisher lager, posted net income of INR275.3m (US$5.8m) for the three months to the end of June. That compared to net earnings of INR138.3m a year earlier.
Net sales reached INR1.9bn, a slight rise on INR1.6bn a year earlier.
UBL, in which the UK's largest brewer, Scottish & Newcastle owns a 37.5% stake, could not be reached for further comment when just-drinks went to press.
The brewer controls around 48% of India's burgeoning beer market, ahead of nearest rival SABMiller, which has a market share of around 31%.
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